Dc First Time Home Buyer Tax Credit. Credit for taxes paid to another state. This federal tax credit is available to first time homebuyers in the district of columbia.
You Ve Saved Up A Down Payment You Re Pre Approved For A Mortgage You Ve Found A Place You Love Now H Buying First Home Home Buying Buying Your First Home from ar.pinterest.com
First time homebuyer tax credit if you re a first time homebuyer in d c you may be entitled to a tax credit of up to 5 000. During the current tax year. The dc first time homebuyer recordation tax is generally reduced to 0 725 from the customary 1 1 or 1 4.
Open doors program for low rates and down payment assistance.
Although the deadline for qualifying for the federal 8 000 first time buyer tax credit has expired there is a tax credit of up to 5 000 still available for first time buyers in the district of columbia. 5 000 if single married filing jointly head of household or qualifying widow er 2 500 if married filing separately or. Created as a response to the 2008 financial crisis the housing and economic recovery act hera allowed new home buyers to get a tax credit of up t0 7 500 during the first year of the initiative. Funding ranges from 10 000 to 80 000 depending on your household income.
