Seattle First Time Homebuyers:
I love free money and this essentially is a loan with no interest so in my book, that is FREE.
First Time Homebuyers can take a tax credit of up to $7500 just for getting out there and buying your first house! This is via the Housing and Recovery Act of 2008 which was recently passed.
Let me know if you need help understanding it, but here are some basics:
This credit is applied for a qualified purchase closing between 4/9/2008 and 6/30/2009.
The house must be a qualified primary residence purchase.
The amount of the credit varies – it is 10% of the purchase price up to $7500 (so $7500 is the max on a $500,000 house).
The credit needs to be repaid within 15 years.
This is FREE money if you need another incentive to get into this Seattle real estate market as a first time homebuyer – an interest free loan from the government to make it easier for you to buy a house. Combine that with historically low interest rates, increased choices, and buyer perks on top of that, why not invest in your future?
Email me if you want more details on how it works – I am happy to help. Also, if you know anyone who might be on the fence, then make sure they know about this because it is a short window of additional opportunity to make buying easier.
Want to look on your own?
Are you interested in Seattle real estate? Here’s a link for houses under $300,000 in King County to get you started: Seattle houses, but make sure and email me about getting your closing costs paid on top of that! realestate@cooperjacobs.com
I am a Seattle Realtor with expertise in making sure you find the best house and get it at the best price!
What world are you from where you consider money you have pay back as “FREE money”
“Combine that with historically low interest rates, increased choices, and buyer perks on top of that, why not invest in your future?”
Here’s why not:
Because homes are still overpriced and unless you absolutely need to buy right now, its better to wait as prices will continue to drop in the foreseeable future resulting in an better entry point for your “investment” in your future.
Actually, I am from a financing world and have an accounting degree. Free money is defined as a no interest loan in this case – as was clearly explained.
It essentially is a FREE loan and does not cost the borrower anything – hence being FREE. Hopefully that helps to clarify.