Basking Ridge Homes For Sale

The Federal Housing Administration issued guidelines that will allow first-time homebuyers to apply the  federal tax credit of up to $8,000 toward the purchase of a home with an FHA-backed mortgage. Are you thinking about buying a home? Are you a first time home buyer? If so, this is great news for you!

The only draw back we could find is home buyers that want to buy a home with nothing down, are out of  not going to be able to do it with this plan. The tax credit can not be used to meet FHA’s requirement of 3.5% down payment, however it can be used to assist you in additional down payment or closing costs.

In order to qualify you have to purchase a home before Dec 1, 2009 and be a first time home buyer (not own a home as a primary residence in the last three years).

The tax credit is good up to $8,000 and will be set by the purchase price of your home up to 10%.

If you are thinking about buying a home and are a first time home buyer looking in Basking Ridge, Bernards, Chatham, Harding, Morristown, Madison New Jersey contact Adrienne Francis today for more information about the First Time Home Buyer $8,000.00 tax credit at 201-259-4449