NJ First-Time Home Buyers

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First Time Home Buyer Tax Credit Scenarios

First Time Home Buyer Tax Credit Scenarios

I typically pass off specific tax credit questions to a tax advisor or CPA. So when a Realtor asked me today about a co-signer on an FHA loan, and if the first time buyer still qualified for the tax credit, I thought "yes", but wanted to make sure.

A quick drop by to the IRS site (IRS.gov) and a few clicks and I found my answer. The first time buyer with a co-signer DOES qualify for the tax credit.

For a list of other scenarios that may help buyers understand, check out this link to the First-Time Homebuyer Credit scenarios on the IRS website.

NJ First Time Home Buyer Information

 

Steve Kappre is a mortgage loan officer in New Jersey with Treasury Mortgage, a subsidiary of Aurora Financial Group. For more info check out:

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  • Offering all aspects of purchase and refinance mortgages up to and over 100% of the home's value
  • Home renovation loans for refinance or purchase mortgages
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Contact Steve Kappre directly: 856-419-3561 | Subscribe to Steve's blog via e-mail

Comment balloon 6 commentsStephen Kappre • January 19 2010 01:16PM

Comments

Thanks, Steve. It is certainly wise to defer to the CPA or other tax professional, but I'm happy you found and shared the answer. THanks again.

Posted by Margo Currie (Exit 1 Stop Realty) almost 9 years ago

That is really good to know. And great news for the buyers who need that tax credit!

Posted by Lisa Hill, Daytona Beach Real Estate (Florida Property Experts) almost 9 years ago

Great info Steve - I want to put together a First Time Homebuyer seminar - are you in?

Posted by Bridget Cella, e-Pro, Realtor (Re/Max Connection) almost 9 years ago

Margo - I'm glad I found it too!

Lisa - I'd think they are very happy knowing this. The agent was!

Bridget - Most likely. I have one in February but that is my only one planned so just let me know.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 9 years ago

Great post Steve and thanks for the links!

Posted by Charles Dailey (iLoan - NMLS ID#4474) almost 9 years ago

Charles - Most welcome.

Posted by Stephen Kappre, Helping You Home (KW Hometown) almost 9 years ago

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