15000 tax credit for homebuyers, what if refinancing?
Do you the 15000 tax credit for home buyers will apply to refinancing a home as techinally you are buying a house? I know this might be a stretch
- 1 decade agoBest Answer
It is for FIRST TIME PURCHASE ONLY...
- Anonymous1 decade ago
I see people taking advantage of this.
If its truly a credit and not a loan you have to pay back.
I heard it's a gift - not a loan this time.
I see wealthy people buying and selling homes daily and making 15K from each home.
In any area that is in demand, people with cash will buy all homes up, and drive the price of homes up.
Lets hope our officials see this coming and make it a loan - not just a real credit.
- Steve DLv 71 decade ago
No, you are not technically buying a home. Buying a home involves the transfer of a deed, not the taking out of a mortgage. What you are doing is financing a home - something completely different.
- npkLv 71 decade ago
No. Only to new purchases.
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- bankchickLv 61 decade ago
It's 7,500.00 not 15,000
- Wayne ZLv 71 decade ago
No, you would not qualify.