First Time Home Buyer – Real Advice

by Maureen McCabe on April 17, 2009


Important information about the economic stimulus package.

* Lesser of 10% of cost of the home or $8000 tax credit
* All principal residences (single family, condo, fee simple townhouse) are eligible
* Refundable
* Income limit of $75,000 ($150,000 for couples)
* First time home buyer (someone who has not owned a principal residence in 3 years)
* Can use local or state revenue bond financing as well, MCC OHFA
* No repayment (homes purchased after January 1, 2009)
* Recapture (if home is sold within 3 years)
* Ends December 1, 2009
* Effective January 1, 2009

Central Ohio is very affordable.

The image is an ecard from Real Living. I am an agent with Real Living HER Worthington

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