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$11,000 Toward Your New Home

Take $11,000 Off the Total Cost of Your Brand New Garbett Home!

November 9th, 2009

$8,000 FEDERAL TAX CREDIT FOR FIRST-TIME BUYERS

1. Available only to first-time home buyers
2. Available only between Dec 1, 2009 - April 30, 2010
3. Does not require repayment
4. Is claimed on a tax return and reduces your tax liability. If your credit is more than your tax liability, your unused credit will be issued as a check to you

Who is Eligible
The law defines a first-time home buyer as a buyer who has not owned a home during the past three years. All U.S. citizens who file taxes are eligible to participate in the program.

Income Limits
Home buyers who file as single or head-of-household taxpayers can claim the full $8,000 credit if their modified adjusted gross income (MAGI) is less than $125,000. For married couples filing a joint return, the income limit increases to $225,000.

$6,500 FEDERAL TAX CREDIT FOR MOVE-UP BUYERS

1. Available to current homeowners looking to buy a new home
2. Available only between Dec 1, 2009 - April 30, 2010
3. Does not require repayment
4. Is claimed on a tax return and reduces your tax liability. If your credit is more than your tax liability, your unused credit will be issued as a check to you

Who is Eligible
Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.

Income Limits
Home buyers who file as single or head-of-household taxpayers can claim the full $8,000 credit if their modified adjusted gross income (MAGI) is less than $125,000. For married couples filing a joint return, the income limit increases to $225,000.

$3,000 FROM GARBETT MORTGAGE

If you use Garbett Mortgage to finance the purchase of your new home, you will receive $3,000 toward the total cost of your home, upgrades to your home, or toward closing costs. Call Sharla today for details: (801) 598-5699.