This morning we attended a meeting at the Pasco County Courthouse conducted by the Pasco County Community Development Division. It concerned the county and state program that will allow first time home buyers (anyone who has not owned an interest in a home in the past 3 years) to get up to an $8,000 tax credit when they buy a home.
The county and state have worked it out so that it appears that buyers who qualify can get the money up front and use it for their down payment. At that point it is treated as a second mortgage. Then the buyer(s) apply and get the tax credit and most will use the money they receive to pay the county back. If not, they end up making payments to the county. However, the idea is that the money will be paid back within months so it can be used for other buyers.
Do keep in mind that, at least for now, this tax credit is due to expire on December 1, 2009! So time is running out!
For more information you can visit the Pasco County Community Development website at: Pasco County Community Development Division
You can also download the information sheets we received today by clicking on the following link: Download Pasco Home Buyer Program
To contact them by telephone you can call: 727-834-3445 or 352-521-4274 Ext. 3445
John Elwell - REALTOR
Bill Nye Realty, Inc.
Licensed in Florida