Home Buyers prestige - How to Get Federal Tax Rebate For Buying Home First Time?

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The 2009 Stimulus box has brought relief for the existing home owners . The Federal Government also seems to be considered to help the people by announcing Federal Tax Rebate. They have announced several grants & tax rebates for those who are buying a home or a car for the first time. Does anything get Federal tax rebate for buying a home for the first time?

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Here are some leading tips and points for Home Buyers to get Federal Tax Rebate:

· The first time home buyers can avail a tax prestige up to $ 8,000.

· Unlike the 2008 tax credit, this year's tax prestige does have to be repaid.

· One leading criterion you must meet is that the home you buy must be a considerable residence.

· added the buy date can be anything in the middle of January 1, 2009 & December 1, 2009.

· an additional one leading fact you must take note of is that those who have first time purchased a home that is their considerable residence on or after April 9, 2008 and before January 1, 2009 now qualify for a tax prestige up to $ 7,500 tax credit.

· The exact definition of the first time home owner as stated by the Us Federal Government says he / she is some one who has not owned any considerable residence for past 3 years or more.

· The revenue for the single man must be less than or equal to $ 75,000 per annum. In case of the couples it is supposed to be less than or equal to $ 1,50,000.

· Further, the home owner would not be able to sell that house for at least three years from the date of purchase.

· an additional one easy and key requirement is that the home you buy must be placed within Us.

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