Will this incentive be available next year? At this point, no one knows. Like the wildly popular "Cash for Clunkers" program, I do not know if the funds will be available in the future or if this offer will extend only through November.
In order to qualify, you must be a first time home buyer or have not owned a home during the past 3 years. You can either file an amended tax return to receive your credit immediately after you purchase your new home or you can file in the Spring with your 2009 taxes. Think of what you could do with your $8000 tax credit!
"What is the catch?", you ask. Answer: You need to live in your home for a minimum of 3 years or you will need to pay the credit back out of the proceeds from the sale of the home.
If you are seriously thinking of becoming a homeowner, now is the time to act. Please call me at (918)812-8338. I can answer questions such as how much home you can afford, provide you the names and phone numbers of reputable lenders and help determine your wants and needs to find the perfect "First Home" for you.
Please feel free to call me or visit my website at VickiPearsonHomes.com