2009 FIRST TIME HOMEBUYER TAX CREDIT
FEATURE DESCRIPTION
Amount Of Credit $8,000.
Eligible Property Any single
family esidence used as
principal residence.
Income Limit Yes. Full amount of
credit available for
Individuals with
adjusted gross
income
of no more that $75,000.
($150,000.00 on a joint
return). Phases out
above those caps
($95,000.00 and
$170,000.00)
First Time Homebuyer Only Yes. Purchaser and
spouse may not
have owned a principal
residence in 3 years
previous to purchase.
Revenue Bond Financing Purchasers who utilize
revenue bond financing
can use credit. In NJ,
State Program is First
Time Buyer Program.
Repayment No repayment for
purchase after January
1, 2009 and before
December 1, 2009.
Recapture If home is sold within
three years of purchase,
entire amount of credit
is recaptured on sale.
Applies only to homes
purchased in 2009.
Termination December 1, 2009
Effective Date Effective as of January 1,
2009
For more information about buying real estate please contact:
“Col” Paul R Hauke BA MBA Realtor Associate/Auctioneer
PRUDENTIAL ZACK SHORE PROPERTIES
401 Spier Ave
Allenhurst, NJ 07711
Office 732-988-4499 ext. 123
cell 732-899-8952
web: www.mlsprh.com