Nov 29

Recurring Question About the Tax Credit

1 comment  | 

I have been asked many times now from my local Lodi and Stockton home-buyers the same question about the $8,000 tax credit.  So much so that I decided to post just a short and simple Q & A blogpost.

Question: Can I use the $8,000 tax credit toward my down payment or closing costs?

Answer: No

BUT, to elaborate a little on this subject, remember that we can always request that the Seller contribute some or even all of your closing costs.  At Realty World – Davis Homes & Properties we have been very successful in requesting these be paid by the Seller and having that request be accepted.

Make it a great Offer Day!

Randy

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One Response to “Recurring Question About the Tax Credit”

  1. Steve on December 1, 2009 at 10:39 am

    Your answer is right on. The buyer can receive a gift from a family member or friend and gift back to them when they have the taxes done!

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