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Use 8,000 Tax Credit as Down Payment

by Victoria Luhring

                              Newest Release                            


Use the $8,000 Home Purchase Tax Credit on closing cost or buy down interest. It's starting to pop up everywhere but here is the Newest hope for home buyers from FHA/HUD- Click for Information


Missouri Housing Program appears to have started this new idea of allowing the tax credit to go toward down payment.  To put it simply: you get a second mortgage at little or no interest, to be paid back with your Tax Credit Money.   Idaho Housing and Finance Association is now offering this options also.  And the Link above shows FHA/Hud has broaden the availability of using the 8,000 tax credit in other ways.

Some state finance agencies have programs in place that will allow you to use the Tax Credit as a downpayment and closing cost,  in the form of a second mortgage secured by the refund and to be repaid upon receiving that credit. 

Leverage your tax credit for downpayment in Ohio. 

I have currently suggested this program to one of our local banks and if they start to offer this program, I will keep everyone informed.

If you know of any local banks offering this:  Let me know because I would like to post the information. 

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Tax Credit Renewable Resources

by Victoria Luhring

              Tax Credits for Renewable Resources 

Government Incentives are available to help reduce the cost of renewable resources.  This is available for business and homeowners to obtain many forms of clean energy from solar, thermal, wind and heating sources.

More incentives from the Department of Energy -In addition to federal tax incentives, some consumers will also be eligible for utility or state rebates, as well as state tax incentives for energy-efficient homes, vehicles and equipment. Each state’s energy office web site may have more information on specific state tax information.

 Residential Renewable Energy Tax Credits
Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016; the previous tax credit cap no longer applies.

There are so many available - See Department of Energy to start your search. 

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Contact Information

Photo of Victoria's Luxury Home Team Real Estate
Victoria's Luxury Home Team
The Danberry Co. Realtors
3555 Briarfield
Maumee OH 43537
Cell : 419-460-5587

    

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