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

6 Answers

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  • 1 decade ago
    Best Answer

    It is for FIRST TIME PURCHASE ONLY...

    Not Re-fi's...

  • Anonymous
    1 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.

    /

  • 1 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.

  • npk
    Lv 7
    1 decade ago

    No. Only to new purchases.

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  • 1 decade ago

    It's 7,500.00 not 15,000

  • 1 decade ago

    No, you would not qualify.

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