Tax Credit for Boise First Time Home Buyers

Hello there! If you are new here, you might want to subscribe to the RSS feed for updates on this topic.

The Tax Credit is Designed to assist First time home buyers, in Boise, to obtain 100% (zero down) financing for home purchases. This releaves young people entering real estate home ownership from coming up with the normally required cash for a regular 3.5% down payment.

Here are a few highlights about the Tax Credit

1st time buyers only: a buyer may not have owned a principal residence for 3 years prior to the purchase.
Credit limits: the maximum amount is 10% of the home’s purchase price, or $8,000 (whichever is less).
Timing: only purchases of a single family home made on or after January 1, 2009 and before December 1, 2009 qualify for the credit. Also buyers must own the home for three years to obtain the credit.
Income limits: single taxpayers with adjusted gross incomes up to $75,000, and married couples with incomes up to $150,000, qualify for the full tax credit.
Easy to obtain: buyers simply file their tax return and complete Form 5405 (First-Time Home buyer Credit Form) which calculates the amount of credit due.

The tax credit loan is offered by Idaho Housing Authority through Guild Mortgage in Boise. I would suggest taking the first time buyers class at IHA at the intersection of 5th and Myrtle.

Pring out your own Boise First Time Home buyer tax credit IRS form 5405

Other post like this one-

Guild Mortgage – Boise Home loans – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

To learn more about Guild Mortgage and myself please visit my other site.

Plurk This Post Buzz This Post Delicious Digg This Post Facebook MySpace Ping This Post Reddit Stumble This Post

6 Responses to “Tax Credit for Boise First Time Home Buyers”

Tell About a Zero Down payment loan for Boise First Time Home Buyers | My First Boise Home on 24 Jun 2009 at 6:53 pm #

[...] purchase price, and a small second mortgage for the remaining 3.5%. This second is usually the tax credit loan that is offered through Idaho Housing Authority. Home buyers must have a middle score of 640 to [...]

Boise First Time Home buyers Mortgage Loan Application | My First Boise Home on 04 Jul 2009 at 2:40 pm #

[...] Please visit my $8,00 tax credit blog. [...]

‘My First Boise Home’ is a Resource of Idaho First Time Buyers | My First Boise Home on 04 Jul 2009 at 2:44 pm #

[...] process and fully explain the Good Faith Estimate, calculating your first mortgage payment, and $8,000 tax credit, in addition to zero down [...]

Boise Renters Don’t Miss Out! | My First Time Buyer Home Loan in Boise on 15 Sep 2009 at 3:44 pm #

[...] time is winding down for the first time home buyers $8,000 tax credit program. Who knows when buyers will have access to great home prices, low interest rates, and FREE money [...]

Boise First Time Home Buyers Leverage Tax Credit | My First Time Buyer Home Loan in Boise on 25 Sep 2009 at 10:31 am #

[...] way to leverage the $8,000 tax credit, is to increase the down payment. If a first time home buyer were to buy a $100,000 home, for [...]

Boise Home Buyers-Get Off the Fence! | My First Time Buyer Home Loan in Boise on 13 Oct 2009 at 7:09 am #

[...] is running out for first-time home buyers to get their $8,000 federal tax credit on the purchase of a [...]

My First Boise Idaho Home loan

A Boise Mortgage Resource for Boise Idaho First Home Time Buyers and Boise home Loan