Posted on: 02nd Oct, 2009 06:30 pm
I PURCHASE A MOBILE HOME 10yrs AGO AND HAVE 2yrs LEFT ON THE LOAN. I AM RENTING THE MOBILE HOME OUT TO SOMEONE NOW,AND PURCHASED A NEW HOME DO I QUALIFY FOR THE FIRST TIME HOME BUYERS CREDIT.(I'VE HEARD THAT A 15FOOT BY 56FOOT MOBILE HOME IS NOT A ACTUAL HOME.)AM I GETTING BAD INFO,PLEASE HELP ME OUT.
MR PAUL
You do nto qulify for the first tiem home buyers credit
New home buyer is one who has not owned a house in the last 3 years
You do nto qulify for the first tiem home buyers credit
New home buyer is one who has not owned a house in the last 3 years
Hi MR PAUL,
Mobile homes do qualify for the first time buyer tax credit, provided it is occupied as primary residence. Even houseboats also qualify for the tax credit.
To qualify for the tax credit, you must not have owned a principal residence for the past 3 years. You own an old mobile home which you said you have been renting out to someone. This means that the mobile home is not your primary residence at present. But how long have you been renting it out? If you have not used this home as your primary residence for the past 3 years, you can qualify for the tax credit.
Mobile homes do qualify for the first time buyer tax credit, provided it is occupied as primary residence. Even houseboats also qualify for the tax credit.
To qualify for the tax credit, you must not have owned a principal residence for the past 3 years. You own an old mobile home which you said you have been renting out to someone. This means that the mobile home is not your primary residence at present. But how long have you been renting it out? If you have not used this home as your primary residence for the past 3 years, you can qualify for the tax credit.