First time home buyer /first time home builder?

[StillHope]

I would like to know if there are programms in Hawaii to help first time home buyers.(There are some in CA).
And if those programms exist,do they apply for the first time builders?

(I know,I am dreaming..[])

[mdd7000]

It is a federal program - it goes for all 50 states. The current one is an $8,000 tax credit if you buy before the end of 2009. One qualifies as "first-time home buyer" if they have not owned a home in 2 or more years, BTW.

[StillHope]

Thank you,Mdd7000.
Do you know if building a first house qualifies for that programme?

[John S. Rabi]

quote:

---

Originally posted by StillHope
Thank you,Mdd7000.
Do you know if building a first house qualifies for that programme?

---

Yes, it does!

Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[StillHope]

Thank you,John!

YOU MADE MY DAY!!!

[StillHope]

John,do you know when I can apply?
I am assuming not earlier than after the final inspection of the house?

[John S. Rabi]

You don't have to apply anywhere, your CPA will take care of it when you file your taxes.

Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[StillHope]

Thank you,John.
I would rather have $8K cash[!]

[asly]

Hi there, we just used the first time home buyer credit to purchase a home, used it as our down payment. My husband hasn't owned a home in over two years, but I have, so we only got 1/2 the credit. It's a little confusing and I would recomend contacting your cpa to help figure it out. We were told that it had to be your primary residence to use the credit. We were also told we could build but had to have the final certificate of occupancy by Dec 2009. So... not sure if that would work for a buildable time-frame unless already started. We purchased an existing home.

http://crazypineappledream.blogspot.com/

[StillHope]

Asly,what exactly is that certificate of ocupancy?