25,000 Happy Reasons to be thankful you missed the Home Buyer Tax Credit in Wichita
Bummed that you didn’t get to take advantage of the $8,000 first time home buyer or the $6,500 repeat home buyer Tax Credit last April? Well, would $25,000 make you feel better?
If you purchased a home for $200,000 on April 30th of this year, the day the tax credit expired, your monthly payment would have been $952.57 based on interest at that time of 4.875%. Today we had a buyer secure a rate of 3.875%…that means at that rate you could buy a home for $225,000 -worth $25,000 more – for $952.23 per month (both examples assume a 10% down payment).
The purchasing power of interest rates today have far exceeded the benefit of the Homebuyer Tax Credit. Pretty interesting!
Written by Katherine Ambrose, ABR, CDPE, CRS, GRIAmbrose Team, Inc. 316.773.SOLD
Founder & Assoc. Broker: Keller Williams Hometown Partners LLC
316.807.5079
kambrose@kw.com
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