Close

See current mortgage rates on Zillow Mortgage Marketplace

Profile picture for cfaghihi

Will I lose my 8000 first time home buyers tax credit, if I refinance. I bought the home 5/09.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 31 2012 - Indianapolis
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (9)

Profile picture for wetdawgs
It is the day that the money changes hands that counts or determining 3 years.     Therefore, listing at 2 years and 10 months is probably okay.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 21 2013
Profile picture for user23802823
Can I list my home before the 3 years (like 2 months short) IF I do not close till after the full 3 years?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 21 2013
Profile picture for user9647919
Thank You
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 27 2012
Profile picture for wetdawgs
@user9647919 - no, it isn't prorated. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 27 2012
Profile picture for user9647919
Isnt it prorated if you sell before 3 years
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 27 2012
Profile picture for sunnyview
There is an IRS Q&A for the credit here that might help. It looks like as long as you stay in your home, you can refi and not pay the credit back.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 06 2012
As long as you stay in your home and it is your primary residence you will not have to repay the credit. After three years is up you can do whatever you please with it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 06 2012
As long as the home remains your primary residence, you wouldn't need to repay the $8,000. The idea of the program was to get 1st time homebuyers into homes. So as long as you remain in your home for the duration of the three years, repayment is not an issue.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 31 2012
Profile picture for wetdawgs
The tax credit documents at www.irs.gov focus on the property remaining your primary residence for 3 full years, and do not comment on financing.  You may wish to communicate with them to verify my interpretation.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
January 31 2012
 
Related Questions
Refinancing issue of LLC rental properties
Profile picture for William Bronchick, ESQ
Latest answer by William Bronchick, ESQ
September 21 2013 | 7 answers
Will I lose my 8000 first time home buyers tax credit, if I refinance. I bought the home 5/09.
Profile picture for wetdawgs
Latest answer by wetdawgs
April 21 2013 | 9 answers
  • Asked by cfaghihi
  • In Refinance
  • January 31 2012
Should we refinance with FHA Streamline?
Profile picture for Caroline  Gerardo Barbeau
Latest answer by Caroline Gerardo Barbeau
March 05 2013 | 5 answers
Mortgage
Profile picture for PukonYukon
Latest answer by PukonYukon
September 13 2012 | 1 answers
  • Asked by user240878
  • In Refinance
  • September 13 2012
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 5727 Yucatan Dr, Indianapolis, IN Home For Sale
    5727 Yucatan Dr, Indianapolis, IN 46237

     For Sale: $50,000

    • Beds: 3
    • Sqft: 1068
    • Baths: 2.0
    • Lot: 18670
  2. 3355 Kristen Ct, Indianapolis, IN Home For Sale
    3355 Kristen Ct, Indianapolis, IN 46235

     For Sale: $89,900

    • Beds: 3
    • Sqft: 1317
    • Baths: 2.0
    • Lot: 9975
  3. 206 W Hampton Dr, Indianapolis, IN Home For Sale
    206 W Hampton Dr, Indianapolis, IN 46208

     For Sale: $357,750

    • Beds: 3
    • Sqft: 2377
    • Baths: 3.0
    • Lot: 6111