859 Bridgewater Court, Stone Mountain, GA Hopat Manor – $105,152.00 – New Price

First Time Home Buyer Tax Credit

According to the IRS, “The first time homebuyer credit is a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. For homes purchased in 2008, the credit operates like an interest-free loan because it must be repaid over a 15-year period. The credit was expanded in 2009 for homes purchased in 2009, increasing the amount of the credit and eliminating the requirement to repay the credit, unless the home ceases to be your principal residence within the 36-month period beginning on the purchase date.”

The IRS as well as the nifty http://www.federalhousingtaxcredit.com have a great question/answer section to address all your questions and inspire you to call Dave Quam and make HOPAT Manor your haven of peace and tranquility.

Check out this video for a bit more on the Federal Housing Tax Credit for First Time Homebuyers.  Remember, the tax credit is available for first time buyers who purchase their home before December 1, 2009.