The Mortgage Man

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$7,500 Tax Credit Available Through Dec. 31

Are you going to take advantage of the home buyer tax credit available through the end of the year?

For those of you interested in buying a home, but you are still on the fence about the current market, don’t forget that the window is closing for the housing stimulus tax credit good through the end of the year.  This tax credit is good for first time buyers (buyers who have not owned a home in the last 3 years), and it is available up to 10% of the purchase price to a maximum of $7500.

While your decision to buy a home should not be based solely on incentives, it is equally important not to ignore those incentives if you are serious about buying.  The difference between buying a home on December 1st and January 10th could mean significant tax savings for your 2008 return.  Be sure to contact your tax advisor for specifics and qualifying criteria.

For more information on qualifying for a mortgage, visit SteveRussellOnline.com or call 850-221-8334.

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