I purchased a home in August of last year and this is my first home, however, I put my mother's name on the home too so I am the primary and she is the joint owner. But she currently owns a home. Would I still be able to qualify for the $7500 tax loan? The home cost about $600,000.
I was wondering if I could do something like I own half the home and that by itself would qualify for the $7500 tax loan credit since $7500 is the lower amount between $7500 and 10% of the home purchase price. The reality is I paid for the entire home myself but I just added my mother's name to get approved for the loan.
Thanks for any advice you may provide.