Virginia Home Buyers Get an $8000 Break
Written by admin on June 24th, 2009. Filed under foreclosure, home buyer, mortgage, reo, reo agent, reo broker, reo hampton roads, reo newport news, taxes, virginia, williamsburg and tagged with down payment, first time home buyer, foreclosure, reo, tax, virginia, williamsburg.If you are a new home buyer or have not owned a home in the past 3 years, we have good news.
The Federal Government is offering an $8000 tax rebate to first time home buyers. The 8K is received after closing and filing a form with the IRS.
Here’s where it gets good! The Virginia Housing Development Authority has ‘monetized’ the tax rebate and is giving the $8000 up front so that it can be used as a downpayment. It will be carried as a second mortgage until you get the money back from the IRS and you can then repay it or continue to carry it as a second mortgage.
Time limits on closing and other details are involved so you’ll want to speak with a mortgage person and your tax advisor.
Any questions on this program, give me a call.
Troy Deierling, Realtor
EXIT Realty Deierling & Assoc.
Williamsburg VA 23185
(757) 715-4793
troy@williamsburgemail.com
www.realestatewilliamsburg.com
