There may never be such an opportunity in history to buy a home. Interest rates for home loans continue to hover at record low levels while prices for resale and new construction homes have dropped to compensate for the over supply of inventory that is saturating the marketplace. What could be better? How about an incentive of up to $2000 per year?
Although widely unpublicized, the Federal Government still has many incentives in place to attract qualified buyers back into the market place. First time home buyers, defined as someone that has not owned a home within the last 36 months, have the privileged opportunity to earn an IRS tax credit of up to $2000 for each year of home ownership. For example, a family that purchases a home under this program, and keeps the home for 10 years, will collect up to $20,000 in credits. Rather than a tax deduction which may not benefit every tax payer at the full value, the opportunity to collect a tax credit translates to cash back on the income tax return.
The information will be presented on Tuesday, May 3rd at 6:30 pm at 3605 Yucca, Flower Mound, 75028. The meeting will feature Alex King, a mortgage banker with King Financial Group. He will address the features and benefits of the tax credit and take time to answer questions from the audience.