ILLMAS Posted August 12, 2009 Report Share Posted August 12, 2009 Hello to all, would someone know if receiving government help disqualifies someone from getting the first time home buyer credit? A potential new TP called me to ask me if she recieves down payment assistance or a special interest rate because she is a school teacher, would she still qualifiy for the first time home credit? Apparently the school district she works has various packages to help out teachers buy a home. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted August 12, 2009 Report Share Posted August 12, 2009 I don't see any connection. taxbilly Quote Link to comment Share on other sites More sharing options...
jainen Posted August 12, 2009 Report Share Posted August 12, 2009 >>receiving government help disqualifies someone from getting the first time home buyer credit?<< EVERYBODY gets government assistance because the loans are guaranteed by FNMA or FHA. The credit is based on the purchase price, not how much of that the taxpayer actually pays up front. Source of down payment is irrelevant for this purpose. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.