First Time Buyer Tax Credit

**This program has expired and is no longer available.  For information about Incentives available for 1st Time Buyers, visit our dedicated 1st Time Home Buyer Website for details!

Want to find out if you qualify for the New Federal Tax Credit for First Time Home Buyers?  This new program allows certain home buyers an $8,000 tax credit just for purchasing a home!  You might even qualify if you have owned a home in the past.  The best way to find out if you qualify is to Contact Us.

(This was Taken from the American Recovery and Reinvestment Act)

FEBRUARY 2009

FEATURE

REVISED CREDIT - EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009

Amount of Credit

Maximum credit is $8000

Eligible Property

All principal residences eligible.

Refundable

Purchasers will receive refund for unused amount when tax return is filed.

Income Limit

Income limits apply.

First-time Homebuyer Only

Still available for first-time purchasers only. You are a First Time Buyer if you have NOT owned a home in the past three-years.

Revenue Bond Financing

Purchasers who utilize revenue bond financing can use credit.

Repayment

No repayment for purchases on or after January 1, 2009 and before December 1, 2009

Recapture

If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009.

Termination

December 1, 2009

Effective Date

All revisions are effective as of January 1, 2009

NEW LISTING EMAIL ALERTS

Be the first to know when new listings hit the market.

Sign Up Now
Twin Cities Market Stats

Pricing trends, average days on market, and more, updated every day.

View All Stats
What's My Home's Value?

Our professional analysis includes data on recent sales and current market trends.

Find Out Now
From Our Blog
Friday, September 12, 2014

Maiden Rock Refuge

This historic riverfront property has been extensively preserved and enhanced by the current owners and will be a destination for generations to come.  Originally built as the Maiden Rock Creamery in the 1940's, it was converted into retail ...  Read More

Tuesday, May 27, 2014

5412 France Avenue #204, Edina MN

Looking for a fabulous condo with all the updates and a location to die for?  Proudly introducing you to MLS #4483720.  This beautifully remodeled condo features an open floor plan, hardwood floors, granite kitchen counters, stainless ...  Read More

View All Posts