Up to $8,000.00 STIMULUS FUNDS will be paid (or credited against taxes owed) to U.S. citizens and certain residents who purchase their “first home” (parents can help) after January 1, 2009 and before June 30, 2010 (must write contract by April 30, 2010), subject to IRS Guidelines.
To “Pre-Qualify” for up to $8,000 you must answer YES that you agree with the following statements:
I am ‘not’ claimed as a dependent on someone else’s tax return.
I am 18 years of age or older.
I have not owned a home during the last 3 years.
I am single; my personal modified adjusted gross income is $125,000 or less.
We are married and our joint modified adjusted gross income is $225,000 or less.
I understand that I will receive Stimulus Funds of 10% of the home’s purchase price up to a maximum of $8,000.
I will not have to repay any of (up to $8,000 Stimulus Funds) if I occupy this home as my principal residence for at least the first 3 years after the purchase.
My home purchase price may not exceed $800,000.
I may not purchase this home from a family member. i.e., My ancestors (parents, grandparents, etc.), my linea descendents (children, grandchildren, etc.), my spouse or spouses’ family members.
I understand that it may be possible to use up to $8,000 in Stimulus Funds at the time of my purchase to pay for certain down payment and closing cost expenses.
I understand that I may be referred to a local Realtor who could assist me in finding a home (house, townhouse, condo, etc.) and to a lender who can assist me with a low interest loan.
I understand that I may access the (up to $8,000 Stimulus Funds) through my lender for certain loans and/or a tax consultant or appropriate tax accountant.