STL Living

Tax Credit for Homebuyers

Some specifics of the tax credit available to first-time homebuyers in the new economic stimulus law:

$8,000 tax credit or 10% of the sale price, whichever is less

Tax credit on 2008 or 2009 tax return

Purchase must be between January 1, 2009 and November 30, 2009

Buyers must live in the house for at least 3 years or they will be obliged to pay it back

Income restrictions: less than $75,000 for singles or $150,000 for couples – possible partial credit for higher-income buyers

Additional buyer advantages:

100% mortgage programs available

St. Louis County $3,000 for first-time buyers (restrictions apply)

Lowest rates since the 1970’s (maybe the lowest rates you will see in your lifetime.)

Buyer’s market

Competitively priced real estate market

Some listed properties have buy-down rates starting at 2.875%

Homeownership is an investment in your future, and your real estate transaction involves one of the biggest financial investments you will experience

We will help you through the process from house hunting and financing options to negotiating, due diligence and closing.