Thursday, December 4, 2008

$7,500 Tax Credit Availabe to Ann Arbor and Ypsianti area Home Buyers

First-Time Home Buyer Tax Credit at a Glance:

  • The tax credit is available for first-time home buyers only.
  • The maximum credit amount is $7,500.
  • The credit is available for homes purchased on or after April 9, 2008 and before July 1, 2009.
  • Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
  • The tax credit works like an interest-free loan and must be repaid over a 15-year period.
Home ownership is not for everyone, however if you have stable employment, and plan to stay in the area long enough to ride out a full economic cycle, there are fantastic deals available for single family homes and condominiums in Ann Arbor, Ypsilanti, Superior, Pittsfield, Plymouth Canton and surrounding areas.

For a complete FAQ visit: http://www.federalhousingtaxcredit.com/faq.php

Search for all Ann Arbor real estate. Bank Owned and Foreclosure Home listings

Photo credit - Flickr. by griffithchris

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