$8,000 in Federal Tax Credits When You Buy a New Montage Home
When you buy a new Montage home, you are eligible to receive $8,000 in tax credits from the Federal Government.
How much is the Federal Tax Credit?
The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.
Who is eligible for the federal tax credit?
The tax credit is for first-time home buyers only. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
Is this a loan?
No. The tax credit does not have to be repaid.
How big is the tax credit?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
When must my first home be purchased to qualify?
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
As prices have come down, owning a new Montage home can cost the same as renting. And with tax benefits it may actually be less expensive. Make 2008 the year you begin building wealth by owning your own home. It begins with a visit to River Road Village.
