What Is A First Time Home Buyer Credit

What Is A First Time Home Buyer Credit

Image titleWhat is a First-Time Homebuyer Tax Credit?


If you haven’t owned a home in the last three years, you owe it to yourself to consider the Washington Homebuyer Tax Credit Program. Eligibility allows you to apply up to 20% of the interest on a new mortgage loan toward your federal income tax! Coupled with other low or no-down options, owning a home may be easier than you think!

  • Dollar-for-dollar Tax Credit

  • Mortgage offsets your taxes

  • Saves thousands

  • Increases your available income

  • Easier loan qualification

  • Easier home ownership

Example: On a $200,000 mortgage at 4% interest, you will pay $8,000 in interest alone in the first year. Twenty percent of this (or $1,600) could be used to lower your federal tax bill. On average this is $133 per month savings.

Eligibility: Any first time homebuyer or qualified veteran who meet income and purchase price limits.

Find out more info here.


Contact me to see if you qualify!

Michael Voth
Real Estate Broker|Bellwether Real Estate

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Phone: 360-599-8946
Dated: July 5th 2016
Views: 625
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