Comments on: Incredible Opportunity – First Time Home Buyer Tax Credit http://www.sunapeeregionblog.com/2009/03/incredible-opportunity-first-time-home-buyer-tax-credit/ My goal with this blog is to share real estate sales information in the Lake Sunapee Region and keep an ongoing update on market conditions. Being so close to the Dartmouth and Manchester/Concord areas our location offers the ability to live and work year round in a vacation destination. Thu, 08 Jul 2010 12:27:33 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Next Steps! Getting Your 1st Time Home Buyer Tax Credit « Mount Sunapee, Lake Sunapee NH Real Estate http://www.sunapeeregionblog.com/2009/03/incredible-opportunity-first-time-home-buyer-tax-credit/comment-page-1/#comment-27 Next Steps! Getting Your 1st Time Home Buyer Tax Credit « Mount Sunapee, Lake Sunapee NH Real Estate Thu, 16 Jul 2009 14:12:37 +0000 http://sunapeeregionblog.com/?p=527#comment-27 [...] To learn more about the tax credit please check out my previous post: Incredible Opportunity First-Time Home Buyer Tax Credit [...] [...] To learn more about the tax credit please check out my previous post: Incredible Opportunity First-Time Home Buyer Tax Credit [...]

]]> By: Dan O'Halloran http://www.sunapeeregionblog.com/2009/03/incredible-opportunity-first-time-home-buyer-tax-credit/comment-page-1/#comment-25 Dan O'Halloran Thu, 16 Apr 2009 19:34:44 +0000 http://sunapeeregionblog.com/?p=527#comment-25 Hi Joel- Excellent question! I called and spoke with my accountant as well as some lenders I know just to make sure I was offering the correct response. As you mentioned most of the information surrounding this credit points towards your "purchasing price" this is also true on all of the tax filing documents surrounding the credit. So it looks like in this scenario you would be claiming the $50,000 purchase. Thanks so much for stopping by! Please feel free to ask more questions! Dan Hi Joel-
Excellent question! I called and spoke with my accountant as well as some lenders I know just to make sure I was offering the correct response. As you mentioned most of the information surrounding this credit points towards your “purchasing price” this is also true on all of the tax filing documents surrounding the credit. So it looks like in this scenario you would be claiming the $50,000 purchase.

Thanks so much for stopping by! Please feel free to ask more questions!
Dan

]]> By: Joel Calhoun http://www.sunapeeregionblog.com/2009/03/incredible-opportunity-first-time-home-buyer-tax-credit/comment-page-1/#comment-26 Joel Calhoun Thu, 16 Apr 2009 17:35:27 +0000 http://sunapeeregionblog.com/?p=527#comment-26 You seem fairly knowledgeable on the 2009 first time home buyers tax credit and renovation loans. I was wondering how those two items work together. The tax credit is worded such that is seems like the home purchase price is what is eligible for the 10% credit. My question is if I bought a home that was listed at 50k and got a renovation loan for 80k to make improvements and purchase the home, would my tax credit be 5k or 8k? You seem fairly knowledgeable on the 2009 first time home buyers tax credit and renovation loans. I was wondering how those two items work together. The tax credit is worded such that is seems like the home purchase price is what is eligible for the 10% credit. My question is if I bought a home that was listed at 50k and got a renovation loan for 80k to make improvements and purchase the home, would my tax credit be 5k or 8k?

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