Update:  Home Buyer Tax Credit extended and expanded!

Now current home owners may be eligible for a tax credit and the tax credit deadlines have been extended into next summer.  Call us at 303-670-0137 or email at taxcredit@cohomesandloans.com to find out if you are eligible!

With Low Mortgage Rates and home values down, home affordability is the best in decades.  Combine that with the Home Buyer Tax Credit of up to $8000, and it is one of the best times to be a home buyer in decades!

Here are the highlights of the First Time Home Buyer Tax Credit:

- Receive $8000 Colorado First Time Home Buyer Tax Credit as a dollar-for-dollar credit on your tax refund for the tax year you buy the home.
- $8000 Colorado First Time Home Buyer Tax Credit does not have to be repaid.
- As long as you have not owned a home in the past 3 years, you are defined as a First Time Home Buyer.
- Program continue to April 1st, 2010

If you are a First Time Home Buyer, you can use this program along with one of our many First Time Home Buyer Loans such as the FHA Loan, VA Loan, or USDA Rural Housing Loan to buy your first home at low Mortgage Rates!

In addition to the First Time Home Buyer tax credit, current home owners may be eligible for a tax credit of up to $6500 too!  If you purchase a home between November 6, 2009 and June 30, 2010 (must go under contract by April 30), then you may be eligible.  The key factor is that you must have owned your current home for at least 5 out of the last 8 years. 

If you have a question that you cannot find an answer for on our website, don’t hesitate to use our FREE Ask an Expert feature.

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