This may be redundant for many folks but my experience to date suggests that many people still don’t know about the government incentive to assist First Time Home Buyers. So, if you already have a clear understanding of how this tax credit works and who is legible to take advantage of it… skip this post and read my next one!
How much can I claim for the tax credit?
Probably the first question on everyone’s mind… Borrower’s can claim up to $8,000 or 10% of the home’s value whichever is less.
Who is eligible for this tax credit?
First time home buyers or those who have not owned a principal residence in 3 years prior to the purchase. This applies to BOTH purchaser and purchaser...