The extended tax credit is just one reason to become a homeowner in Mat-Su Valley AK.  If you are confused as to what qualifies you for the home buyer tax credit, take a look at the list below for general information you should know about it:

• The tax credit is for new buyers (i.e. first time home buyers) and principal residences.
• A first time home buyer is someone who has not owned a principal residence for three years time before buying a home.
• The tax credit is only available to 2009 buyers who purchase a home on or after January 1st and before December 1, 2009.
• The tax credit is subject to income limitations and single buyers will need a modified adjusted gross income of $75,000 or less to qualify.  reduced credits may also be available for those in higher income brackets.
• This tax credit will be refunded to a buyer if his/her yearend tax liability is less than the credit.
• Home buyers must own the home for at least three years in order to capitalize on the credit, otherwise they will have to return the credit to the government.  some exceptions apply, however, including such cases as death or divorce.

View the video provided for a more intensive look at the Extended Tax Credit.

For more information on becoming a homeowner in Mat-Su Valley AK including Wasilla, Palmer, and Anchorage Alaska, contact The Kristan Cole Team today.

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