The Owl Homes Group
2010 Homebuyers Tax Credit
Act Now to save up to
$8,000.00 and $6,500.00!!
on tour new Home purchase!!
Questions & Answers:
Who is eligible to claim the $8,000.00 tax credit?
ALL first time Owl Home Buyers. A "first-time home buyer" has not owened a principle residence during the three year period prior to the purchase. If you are married, neither has owened a home in the past three years!
Who is eligible to claim the $6,500.00 tax credit?
All move up buyers who purchase Owl Home as a primary residence if the owend there current home for at least 5 consecutive years in the previous 8 years!
What type of home qualifies for the tax credits?
ANY OWL HOME you purchase (singlewide, sectional or modular home) will qualify; provided it is your primary residence!
What income limits are there for the tax credit?
Good news the income limits have been raised: Individual or Single households can claim the credit if the income is less than $125,000.00 and those married filing jointly can claim the credit if their income is less than $225,000.00!
How do they decide on the tax credit amount?
10% of the purchase price with a cap of $8,000.00 for first time homebuyers and $6,500.00 for 5year consecutive year homeowners!
Does the tax credit have to be paid back to the Government?
NO!, as long as you remain in the home for 3 years!!
What are the time and term limits for either credit?
You must be under contract for the home purchase by April 30 2010 and closed on the home by June 30 2010! REMEMBER IT TAKES TIME TO DESIGN & PLAN A HOME, OBTAIN PERMITS AND FINANCING SO START YOUR NEW HOME DREAMS TODAY TO QUALIFY!!!
How do I obtain the tax credit?
Through your local tax professional. They will complete an IRS form to send in along with a settlement statement or builder contract to file for that credit. That's it, a couple pieces of paperwork and the money is yours!!