If you are looking to purchase your first home - now is the time to do it. With mortgage rates at an all time low, falling home prices, and an $8,000 first-time home buyer tax credit, a growing number of buyers are jumping into the housing market.
First time home buyers are defined as a buyer who has not owned a principal residence during the three-year period prior to the purchase. If you fall into this category and are looking to purchase, our mortgage lenders would be happy to visit with you about any questions or concerns you may have regarding this tax credit.
The tax credit is a true credit - it does not have to be repaid. The only repayment requirement is if the home owner sold the home within three years after the purchase.
Visit with a Reliabank mortgage lender for more information. Travis Torgerson in Watertown at 886-6000, Gail Olson-Duck in Hartford at 528-4000 or Pat Biederstedt in Hayti at 783-3616.
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