American Recovery and
Reinvestment Act of 2009
Housing Stimulus  (36kb)
Use the Money for Closing Costs
As part of the American Recovery and Reinvestment Act of 2009, first time home buyers (including those who have not owned a home for 3 years) may be eligible for an $8,000 tax credit.*
If you are a first time home buyer and purchase your home on or after January 1, 2009 through November 30, 2009,
then you may qualify for the tax credit of up to $8,000. You claim the credit when you file your taxes for 2009. This is in addition to the other
tax benefits that come with purchasing and owning a home!
If you are someone who typically gets $200 back from the government when you file your taxes, you could now be getting another $8,000.
That would be $8,200 back to you on your tax return!
If you sell your home within three years, then the entire amount must be paid back at the time of your sale. Own your home for more than three
years and you do not pay back any of the $8,000.
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