A credited mortgage consultant, Pat Evans just provided us with a great fact sheet for first time home buyers. Alot of first time home buyers don't know that they actually can recieve a bonus when purchasing their very first home. This means that you must not have previously owned a home. So, if your spouse had purchased a home previously and you are going to buy the home together, you will not be eligible for the tax credit. However, if you purchase the home in your name and then later put the spouse's name on title at a later date you could still potentially recieve the tax credit.
This is a great incentive that can really help towards a first time buyers dream of purchasing a home.
To read more on the first time home buyers bonus, click on the link below.
First Time Home Buyers Fact Sheet
First Time Home Buyers Fact sheet
Blog by Century 21 Amos Realty | April 4th, 2012