Columbia, SC Real Estate Blog

The 2009 homebuyer tax credit simplified: 

     – Must be 1st time home buyer.

       (defined as someone who hasn’t owned a house in 3 years)

     – The credit is for 10% of sales price

       ( not to exceed $8,000)

     – Must close on the home between 1-1-2009 and 11-30-2009.

     – The home must be your primary residence.

     – The home must be a single family residence.

     – You must meet income requirements .

       (less than $75,000 for single and less than $150,000 for joint)

     – The tax credit is applied to your tax liability.

     – Any unused tax credit is refunded to you.

     – Does not have to be repayed.

       (unless you sell the home before 3 years time)

For more information click here.

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