Qualifying properties must be owner-occupied, and owners must comply with household income limits. Current non-WHEDA first mortgage holders are eligible to apply. “This program is yet another WHEDA tool our lending partners can use to help homeowners enjoy their homes and stay in them until inte...
The income limits are listed for each year of ownership in which recapture tax may be due. When is recapture tax paid? Whether or not recapture tax is due, borrowers must file IRS Form 8828 with their federal income tax returns for the year in which their home is sold. Recapture tax is...