Some people think it doesn’t really matter where they buy their insurance. But this misconception could be costing them money, service and protection. Buying insurance isn’t like buying bread or milk. Insurance is an important safety net for a family, a car, a home, or a business. Don’t treat the purchase lightly!

There is a difference in where you buy your protection. Many people don’t realize there are three sources for insurance:

Customer satisfaction is the key to an independent agent’s livelihood. So, serving you is your independent agent’s most important concern.

For additional information, contact Brooke Murphy, CPIA with AmeriFirst Insurance Agency (512) 524-8808 or email Brooke at bmurphy@amerifirstinsurance.com.

In order to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.

Just last year, home buyers and owners were able to take advantage of the Housing and Economic Recovery Act's $7,500 tax credit. This credit served as a 15 year interest free loan for those who purchased their home after April 9, 2008 and before July 1, 2009. With the new and improved $8,000 tax credit plan in place, buyers have the opportunity to receive a good chunk of cash which, unlike the last year's tax credit, does not have to be repaid.

First-Time Home Buyer:
Have you leased your home for the past three years? If so, then you may qualify for the tax credit, as the plan defines a first-time home buyer is a buyer who has not owned a principal residence during the three-year period prior to the purchase.

Purchase Date:
Buyers are encouraged to act fast as the cutoff date for this $8,000 credit is November 30, 2009; not at the end of the year, as one might expect.

Principle Residence:
According to the plan, a “main home” is any home that will be used as a principle residence, and includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. Multiple home owners, or those looking to purchase their second, third or even fourth home, will not qualify for this particular tax credit.

Income Limits:
Those buyers with a modified adjusted gross income (MAGI) of less than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return will receive the full tax credit amount. If it is more, the tax credit amount is reduced until your MAGI meets or exceeds $95,000, at which point you are no longer eligible for the credit.

Stay Put:
In order to qualify for the tax credit, plan to stay put in your new home for a minimum of three years. Buyers cannot move, sell or otherwise leave their home for at least three years after they purchase.

Price:
The plan states that the buyer receives 10% of the purchase price of the home up to $8,000, whichever is less. So the monetary amount you're awarded is determined by your new home's price. In order to receive the maximum credit of $8,000, the buyer must purchase a home for $80,000 or more.

Participating in the tax credit program is simple. Determine your tax credit amount by completing the IRS Form 5405 and claim the tax credit on your federal income tax return. With home prices and mortgage rates at near all time lows, buyer incentives and tax credits greatly contribute to your goals of homeownership.

If you're interested in taking advantage of this opportunity, you only have a short while to act. Determine whether or not you qualify for this tax credit by reviewing the above mentioned requirements and by contacting DiAnne Acuña with Land Mortgage at 512.583.1030.