Eugene Loan Guy

OK, according to the latest version of the Homebuyer Tax Credit, if you have owned a home consecutively for 5 of the last 8 years, you are eligible for a $6,500 tax credit if you purchase a new home, the move up buyer tax credit. In addition, if you haven’t owned a home for the previous 36 months, you are eligible for the $8,000 First Time Homebuyer Tax Credit.

So, here is my silly question:

If you owned a home for five years and sold it 3 years ago and are buying a new home now, are you eligible for both the $6,500 and the $8,000 tax credits?

I know I shouldn’t be thinking those things, but I bet there is someone out there that would qualify. Wouldn’t it be funny if there were such a loophole? Well, back to more serious stuff.

If I can help you with your mortgage needs in Oregon, Washington or California, please give me a call at 541-342-7576/541-221-3455 or e-mail me. I am here to help you through the steps of the mortgage process. Check out my websites, you will see my picture, my contact information and information about me. This is not just a copy site, what you see is what you get.