First-Time Home Buyers Enjoy Tax Credit

As part of the Obama administration’s commitment to helping every American find a place to live, the government has been offering what essentially boils down to up to $8,000 of free money. Buyers who close by November 30th are eligible for this tax credit, one that is worth up to 10 percent of the home’s purchase price.
 
Purchasing a home before Nov. 30 is not the only requirement, though. The home you are buying has to be your first home or the first home you have owned in three years. Single buyers must have a modified adjusted gross income (MADI) of …read more