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NEW BILL OFFERS INTEREST FREE LOAN

TO

FIRST TIME HOME-BUYERS

Frequently Asked Questions

First time home-buyers who purchase a primary residence between April 9, 2008 and June 30, 2009 will qualify for a tax credit up to $7500. A first time home-buyer is someone who has not owned a home in the past three years.

This tax credit works like an interest-free loan and must be repaid over 15 years.

Repayment will begin the second year after the credit is received. The home-buyer’s tax bill will increase by $500 each year for the 15 year period. Income limitations are $75,000 for a singles and $150,000 for married taxpayers.

BENEFITS TO HOME-BUYERS:

• Interest savings
• Payment savings
• W-4 withholding adjustment allows for immediate savings benefit
• Contact Blue Water Mortgage Co. for a specific scenario analysis

Assist your first time home-buyers and promote a healthy real estate market. Take advantage of our offer to provide your customers/clients with an overview and action plan. We will send a mail out in your name to those whom you request, providing explanation and direction.

Remember. I am not a tax advisor or attorney. Consult with your personal advisors for tax and legal questions.