How does the first-time homebuyer tax credit work?

Answer There are several advantages to becoming a homeowner. In addition to taking advantage of low interest rates, first-time home buyers may also get a substantial tax credit for their purchase.FactsUnd... Read More »

Top Q&A For: How does the first-time homebuyer tax credit work

When is Obama's first time homebuyer credit of $8,000 in effect?

The $8,000 credit is from The American Recovery and Reinvestment Act of 2009. It applies to purchases made in 2009 before December 1. The Worker, Homeownership and Business Assistance Act of 2009 e... Read More »

First Time Homebuyer HUD Guidelines?

In the United States, the Department of Housing and Urban Development (HUD) recognizes that not everyone can afford to purchase a home without assistance. Therefore, HUD offers grants for first-tim... Read More »

How to Replace a First Time Homebuyer IRA Distribution?

Although an Individual Retirement Account is intended primarily for retirement savings, you can take distributions from the account at any time, subject to Internal Revenue Service penalties and ta... Read More »

Can a Wife Qualify Alone as a First-Time Homebuyer?

Qualifying as first-time home buyer means you have not been listed as an owner or joint owner on any previous residence secured by a mortgage. Other qualifications exist as well, including meeting ... Read More »