menu
Expert Word
Welcome to the stickK Expert Word
First Home Purchase
By Jo Ellen Fritz   View more articles by this author
  Add a Comment    |    Bookmark and Share
February 24

Congress has extended the tax credit for first time home buyers through the spring of 2010.  If you are thinking about purchasing your first home, now might prove to be a great time to do so.


The refundable home buyer tax credit is equal to the lesser of $8,000 or 10 percent of a home’s purchase price for those buying a principal residence for the first time.  The credit is phased out for those earning between $125,000 to $145,000 for individuals and $225,000 and $245,000 for joint filers.  The home purchase must close by July 1, 2010 provided that a written binding contract is in place by April 30, 2009.


Remember a tax credit, such as this, is much more desirable than a tax deduction.  A tax credit is a dollar for dollar offset of your tax liability.  Since this is a refundable tax credit it means that if you don’t owe that much in taxes you’ll get a check back from the government.  Note that the tax credit must be repaid if you sell or move from your home within 36 months of purchase.


An important point to remember when shopping for your first home is to get pre-approved for a home mortgage.  Qualifying for a mortgage has obviously gotten tougher in the last year, though not impossible, so you want to make sure you have the financing in place before you start to shop.


Though a lender may approve you for a certain amount make sure you are comfortable with that potential mortgage payment.  Be careful not to become ‘house poor’.  Consider what you are currently paying in rent; is that amount comfortable for you in regards to your income level and lifestyle choices?  If so then would a mortgage payment that is higher than your current rent be a hardship?


Don’t forget you can’t call the landlord when a pipe bursts so a healthy cash reserve is also essential. Depending on the type of financing you receive you are going to need to make a down payment for as much as 20% of the purchase price.  Make sure that you don’t deplete your cash reserves with the down payment.  Consider shopping for a home that is priced to allow you to keep some cash in reserves for emergencies, maintenance and repairs.


Owning a home can be a great experience, but a few lessons from the recent past are helpful to keep in mind. Real estate can go down in value so don’t overextend yourself with a mortgage and choose the home you purchase carefully.

  Add a Comment    |    Bookmark and Share

Comments

Post Message
RileyBryson
RileyBryson
August 6, 2023, 5:56:36 PM GMT
GET RICH WITH BLANK ATM CARD, Whatsapp: +18033921735

I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Online Hackers send them the atm blank card and use it to collect money in any atm machine and become rich {DARKWEBONLINEHACKER [email protected]} I email them also and they sent me the blank atm card. I have use it to get 500,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

You can also contact them for the service below

* Western Union/MoneyGram Transfer

* Bank Transfer

* PayPal / Skrill Transfer

* Crypto Mining

* CashApp Transfer

* Bitcoin Loans

* Recover Stolen/Missing Crypto/Funds/Assets< br />
Email: darkwebonlinehackers @gmail.com

Text & Call or WhatsApp: +18033921735

Website: https://darkwebonlin ehackers.com
JulieHedda
JulieHedda
July 31, 2023, 7:05:16 AM GMT
Reputable Cryptocurrency Recovery expert// CaptainWeb Genesis.

Most frequently asked question by investors after losing Bitcoins to fraudsters, is how possible is it to recover the lost Funds. I happened to become a scam victim last summer. I became interested in Cryptocurrency trading last summer and decided to trade $525,000 worth of crypto through an online software company which promised huge returns. Everything went wrong after they transferred all my funds from my coin base wallet to an unknown wallet address. I immediately had a search out on a reliable option to recover the funds back. I came across CAPTAINWEB GENESIS, a specialized Expert in Cryptocurrency Recovery services. I must say I have good fortune, all my lost funds have been recovered back all thanks to CAPTAINWEB GENESIS. To any victim who has lost Crypto to fraudsters learn more on restoring back your funds Visit Web https://captainwebge nesis.com/

CONTACT INFO;
WhatsApp +1 (447) 442-0456.
Email ;Captainwebgenesis@h ackermail.com
JulieHedda
JulieHedda
July 31, 2023, 7:05:12 AM GMT
Reputable Cryptocurrency Recovery expert// CaptainWeb Genesis.

Most frequently asked question by investors after losing Bitcoins to fraudsters, is how possible is it to recover the lost Funds. I happened to become a scam victim last summer. I became interested in Cryptocurrency trading last summer and decided to trade $525,000 worth of crypto through an online software company which promised huge returns. Everything went wrong after they transferred all my funds from my coin base wallet to an unknown wallet address. I immediately had a search out on a reliable option to recover the funds back. I came across CAPTAINWEB GENESIS, a specialized Expert in Cryptocurrency Recovery services. I must say I have good fortune, all my lost funds have been recovered back all thanks to CAPTAINWEB GENESIS. To any victim who has lost Crypto to fraudsters learn more on restoring back your funds Visit Web https://captainwebge nesis.com/

CONTACT INFO;
WhatsApp +1 (447) 442-0456.
Email ;Captainwebgenesis@h ackermail.com
JulieHedda
JulieHedda
July 31, 2023, 7:05:09 AM GMT
Reputable Cryptocurrency Recovery expert// CaptainWeb Genesis.

Most frequently asked question by investors after losing Bitcoins to fraudsters, is how possible is it to recover the lost Funds. I happened to become a scam victim last summer. I became interested in Cryptocurrency trading last summer and decided to trade $525,000 worth of crypto through an online software company which promised huge returns. Everything went wrong after they transferred all my funds from my coin base wallet to an unknown wallet address. I immediately had a search out on a reliable option to recover the funds back. I came across CAPTAINWEB GENESIS, a specialized Expert in Cryptocurrency Recovery services. I must say I have good fortune, all my lost funds have been recovered back all thanks to CAPTAINWEB GENESIS. To any victim who has lost Crypto to fraudsters learn more on restoring back your funds Visit Web https://captainwebge nesis.com/

CONTACT INFO;
WhatsApp +1 (447) 442-0456.
Email ;Captainwebgenesis@h ackermail.com

stickK Expert Word

   Career
   Diet & Healthy Eating
   Education & Knowledge
   Exercise & Fitness
   Family & Relationships
   Green Initiatives
   Health & Lifestyle
   Money & Finance
   Sports, Hobbies & Recreation
   Weight Loss
Your feedback has been sent. Thank you!
This website uses cookies to ensure you get the best experience on our website. Read our Privacy Policy