The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of
up to $8,000 for qualified first-time home buyers purchasing a principal residence
on or after January 1, 2009 and before December 1, 2009.*

Who is eligible to claim the tax credit?
The tax credit is for first-time home buyers purchasing any kind of home - new or resale. For this program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.

How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price - up to a maximum of $8,000.

Are there income limits for claiming the tax credit?
Yes. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

Does the tax credit need to be repaid?
No. This tax incentive is a true tax credit. However, home buyers must use the residence as a principal residence for at least three years or face recapture of the tax credit amount. Certain exceptions apply.

What types of homes will qualify for the tax credit?
Any home that will be used as a principal residence will qualify for the credit – this includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also know as mobile homes) and houseboats.

We realize that you may have many more questions than we can address here. We urge you to contact a WesBanco Mortgage Specialist for all of the details on how to take advantage of this special opportunity.

Call the WesBanco Mortgage Group today for complete details!
1.877.682.7944

*These are some questions and answers to provide basic information about the tax credit. For more specific questions/information, you are strongly encouraged to consult a qualified tax advisor about eligibility.