Virginia Offers $8000 Downpayment to Home Buyers
Jun 24th, 2009 by admin
If you are a new home buyer or have not owned a home in the past 3 years, we have good news.
The Federal Government is offering an $8000 tax rebate to first time home buyers. The 8K is received after closing and filing a form with the IRS.
Here’s where it gets good! The Virginia Housing Development Authority has ‘monetized’ the tax rebate and is giving the $8000 up front so that it can be used as a downpayment. It will be carried as a second mortgage until you get the money back from the IRS and you can then repay it or continue to carry it as a second mortgage.
Time limits on closing and other details are involved so you’ll want to speak with a mortgage person and your tax advisor.
Any questions on this program, give me a call.
Troy Deierling, Realtor
EXIT Realty Deierling & Assoc.
Williamsburg VA 23185
(757) 715-4793
troy@williamsburgemail.com
www.realestatewilliamsburg.com
