government funded superjet build!
- Thread starter doitone
- Start date
#ZERO
Beach Bum
- Location
- Florida - U.S.A.
Sweet!.... Are you going to paint it with a red, white and blue color scheme? :usa2:
- Location
- Charlotte, NC
haha gnar!!! i wanna buy a little tiny shack or sumthin when i get out of highschool... $500 10x10 shed in my parents backyard that contains a $7500 ski. lol
You should probably check into that a little bit more.
It's a loan you'll be paying back in taxes over years to come.
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In average I get 1000 back in taxes a year. so for 15 years I'll get 500 back. Or I can just put 23$ a paycheck a side for 15 years, either way I'm getting it!!!!!!!!!!
WaveDemon
Not Dead - Notable Member
- Location
- Hell, Florida
this sounds like an awful idea.
OCD Solutions
Original, Clean and Dependable Solutions
- Location
- Rentz, GA
Nothing in Life is "Free".
OptimaRacing
Jet zoomers
That's it America, borrow some more money you can't pay back. It's not your fault.................
2006superjet
just one more part....
- Location
- costa mesa ca
hmm
what about freestyle
:splatt::splatt::drillsergeant:
what about freestyle
:splatt::splatt::drillsergeant:
The Penguin
triple secret probation
- Location
- down by the river
OK - called Mom and got the lowdown on this deal. I'll explain it as simply as I can.
You must buy a home between Apr 9 and June 30, 2009
You will receive a $7500 tax credit when you file your 2009 taxes (so if you were to get a $600 refund, you would get an $8100 refund)
you will have a 2 year grace period to begin repayment
you will repay at 1/15 of the credit per year for 15 years.
if the house sells for a profit before the credit is repayed - you will owe it back immediately
if the house sells for a loss, the credit is forgiven.
there are other stipulations - but that's the short version of it.
Her advice - skip that tax credit. There is another program available that allows for a $2000 tax credit per year FOR THE LIFE OF THE LOAN. Do the math, if you stay in a house for 7 years (average time for US homeowners) - that is $14,000 tax credits.
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BombThreat
'Diggity
- Location
- Johnstown, NY
wait there is a 2000 tax credit per year for the entire life of the loan?! where can I get more information on that?
The Penguin
triple secret probation
- Location
- down by the river
I'll ask is there is something she can scan and email me that I can post.
anyone in TX that needs help with a loan - send me your contact info and I'll pass it on to Mom.
anyone in TX that needs help with a loan - send me your contact info and I'll pass it on to Mom.
I should have listened when I had the chance!
The Penguin
triple secret probation
- Location
- down by the river
do a search for "mortgage credit certificate" and your state department of housing and community affairs. There are income limitations (and home price limitations depending on the program) for all these federally funded programs (AKA - "the government cheese"). Sometimes the credits vary from one county to another depending on whether you are in a "targeted area" - Also you should contact a local mortgage broker and specifically ask about MCC and if you qualify for it. The most important thing to realize is that these credits are no retro-active. They must be set up when you purchase your home.
When I bought my house in 2007, I got a 5% down payment assistance due to being a first-time buyer. My income was about $500 under the max limit, or I would not have qualified.
der dee der! would you like to refi? rates are as low as they've ever been. I know someone in the biz. :biggrin:
Way too soon isn't it? We can talk more about it later. I'm trying to make a deal right now :biggthumpup:
shawn_NJ
Chasing waves.
- Location
- Daytona Beach
Buying your first home, with the intention to get a $7500 loan for a superjet purchase..... probably isnt the most sound financial decision you will ever make. LOL.