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Purchasing Your First Home in Pittsburgh and Cleveland

Purchasing your first home?

Do you know about the First-Time Homebuyer $8,000 IRS Tax Credit?
For details, click here.

First-Time Homebuyer $8,000 IRS Tax Credit

Are you or someone you know thinking of purchasing your first home? Good news! The IRS has passed the First-Time Homebuyer Tax Credit, giving you a ten percent tax credit on the cost of the home up to $8,000. You’ll simply claim the purchase on that year’s tax return and your income tax liability for that year will be reduced.

Who is eligible for the tax credit?

  • First-time homebuyers purchasing any single-family residence that will be used as a primary residence – including condos and co-ops.
  • Individuals with an adjusted gross income of $75,000 or less. Joint returns with an adjusted gross income of $150,000 or less.*
  • Individuals, and their spouse if applicable, who have not owned a primary residence in the past three years.

This tax credit opportunity is set to expire on December 1, 2009. So if you or someone you know is thinking of buying their first home, this is a great opportunity you’ll want to find out more about.

To find out more about the IRS Tax Credit, contact a Dollar Bank Mortgage Representative today at 1-800-344-5626 in Pennsylvania or 1-800-820-6051 in Ohio.

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Purchasing your first home can be intimidating. Let the experts at Dollar Bank guide you through the process. We offer mortgages with fixed and adjustable rates, lower payments and reduced rates especially for first-time homebuyers. We also offer mortgage options with no Private Mortgage Insurance required and down payments as little as 5% accepted. Grants may also be available.*

Here are a few first-time homebuyer mortgage options available:

  • Federal Housing Administration (FHA) Mortgages – Requires only 3.5% down, and all of the funds can be a gift from a relative.
  • Pennsylvania Housing Financing Association (PHFA) Mortgages - Reduced rates and payments if you live and are purchasing a home in Pennsylvania.
  • Ohio Housing Financing Association (OHFA) Mortgages - Reduced rates and payments if you live and are purchasing a home in Ohio.
  • U.S. Department of Veteran’s Affairs (VA) Mortgages – Helps qualified veterans, reservists and national guardsmen borrow up to 100% of the home.

Financing is available for properties in many areas throughout the U.S.**

Plus, find out about our fast and easy Mortgage Pre-Approval below. A pre-approval will let sellers and real estate agents know you're a serious buyer.

To find out more about Dollar Bank’s first-time homebuyer options, contact a Dollar Bank Mortgage Representative at 1-800-344-5626. Ask about other mortgage options that may be available in your county.

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*Consult your tax advisor regarding grant options. Not all Dollar Bank mortgages are available in conjunction with the IRS Tax Credit.
**Some restrictions may apply.

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