Aldo Grillo's New York Real Estate Blog

To qualify for your Obama Stimulus First Time Home Buyers Program you must close on a home before November 30, 2009. The first time buyer requirement means the buyer did not own a home for the last three years. The home must be your primary residents, and you must live in it for the next three years.

So you are asking, how do I apply for my tax credit? Your tax prepare will fill out a form on your 2009 taxes and that’s all.

Now you are asking; How come this is too good to be true? Well you don’t get the full $8,000.00 if you need to pay any tax with your 1040. The tax bill get subtracted from the $8,000.00. For example if you owe $1,500 it will be subtracted from the credit of $8,000.00. (1500 – 8000 = $6500).

If you have any questions please feel free to ask…