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SummerGlen
Golf Club Community
15480 SW 13th Circle
Ocala, FL 34473
352-245-3897
800-277-8707
Fax: 352-245-8493
Email: info@summerglen.com

Visit our sales office open daily 9-5, Sundays noon-5.

Home > Resources > Purchase a Home with a Federal Housing Tax Credit

Purchase a Home at SummerGlen with a Federal Housing Tax Credit

Many of SummerGlen's newest home buyers are purchasing homes for the second or even third time, switching their main residences to our active 55 and over community. While our homes are already incredibly affordable, the government is offering an even more cost-effective way to become a homeowner all over again! The Worker, Homeownership, and Business Assistance Act of 2009 has authorized a federal housing tax credit up to $6,500 for qualified repeat home buyers. Best of all, any kind of home is eligible for the 2009 home buyer tax credits.

Details on the 2009 Home Buyer Tax Credits

In order to qualify for the federal housing tax credit, you must have owned and lived in a home for at least five consecutive years of the eight years prior to the purchase date of the new home. Home buyer tax credits are equivalent to 10% of the home's purchase price, or up to $6,500. To be eligible, single taxpayers cannot exceed $125,000 in income, while eligible married taxpayers cannot exceed $225,000.

To take advantage of the 2009 home buyer tax credits, simply claim it on your federal income tax return, using IRS Form 5405 for guidance. The HUD-1 settlement form must be attached to Form 5405 to show that the purchase is complete. For construction of a new home, the certificate of occupancy takes the place of HUD-1. For new homes to qualify for the federal housing tax credit, occupancy in a newly constructed home must occur on or before April 30, 2010. Learn more about using a federal housing tax credit toward a home at SummerGlen.

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For more than 30 years, building the best
in Florida active adult living.

SummerGlen is an over-55 adult retirement community in Ocala, Florida, offering the best adult-oriented retirement lifestyle in Central Florida. SummerGlen is an age-restricted community offered for sale to adults over the age of 55.

If you're thinking of retirement in Florida, we invite you to visit SummerGlen and discover the best in life by Florida Leisure Communities, for more than 30 years, a leader in building Florida adult lifestyles.

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