Home Buyer Tax Credit $8,000

President Obama and the government have agreed to give home owners a $8,000 tax credit to buy a home. Veteran can take full advantage of this.

2009 is a great year to buy, loan rates are very low, house prices are very reasonable and you get a tax credit for $8,000 if you buy a house.

If you owe no taxes, you get the full $8,000. Say you owe $2,000 in taxes, you will get a $6,000 tax refund check for buying a house in 2009.

If you owe less than $8,000 in taxes, the difference gets refunded to you The full amount of the credit is available to singles who make $75,000 or less, or couples who make $150,000 or less(tax credit phases out above those caps)

This tax credit is only good until December 2009

So if you buy a house before Dec 2009 this year, you could have $8,000 in taxes eliminated. If you owe less than $8,000 you will get the difference refunded. So if you owe $4,000 in taxes, you will eliminate the $4,000 + get a refund for $4,000! You could put this money in the bank as cash reserves or use it to assist you in furnishing your new house or making improvements.

FHA and Fannie Mae loan limits are now back to $729,000 in most of CA. You can get a lot of house in CA again for $729,000.

Give me a call if you would like to discuss using a zero down VA Loan to purchase a home. Rob Chomentowski

FHA and VA Loan Specialist

858-922-7899 (direct)