RentToOwn-HouseFinder.com
will the first time home buyers credit work if you are doing a rent to own house?
Just wondering if the home buyers credit will work for a rent to home type agreement? We are doing basically the same thing except going thru the home owner instead of a realty company or bank.
Public Comments
- As long as you close on the house by August 30, 2009, and you are a first-time buyer, it will count - type of financing does not matter, just when you take possession.
- It wouldn't apply until you actually purchase the home. Be careful of renting to buy, they rarely work out to the benefit of the buyer.
- I know that this may not be fully answering your question but here is some info on the current housing credit. I hope this helps!
- If you do not close on the home and it is not in your name you cannot claim it. Most times these situations are you pay additional rent until you build up some value in compared to the worth. (With falling prices almost impossible) So if the home is not in your name you cannot claim it
