|
![](http://bin.metrobrokers.com/binhandler.ashx?id=7AB64255-F0E4-DE11-9097-0015C5E6CB62")
|
|
• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time
home buyers until April 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners
purchasing a new or existing home between November 7, 2009 and April
30, 2010.
• The $8,000 tax credit is available to first-time home buyers who purchase homes
between November 7, 2009 and April 30, 2010.
• The law defines a first-time home buyer as a buyer who has not owned a home
during the past three years. If you've owned an investment property that was
not your principle residence, you may still be eligible.
• The $6,500 tax credit is available to current home owners purchasing a home
between November 7, 2009 and April 30, 2010, who have used the home being
sold or vacated as a principal residence for five consecutive years within the
last eight.
• All U.S. citizens and resident aliens who file taxes are eligible to participate in the
program
• All homes within the United States, whether single-family, townhomes or
condominiums will qualify.
• The home must be used as a principal residence.
• The tax credit includes newly-constructed homes.
The credit has been extended an additional year for military personnel that were deployed overseas for a minimum of 90 days in 2008 or 2009. In other words, the credit ends for everyone on April 30, 2010, except active-duty military working overseas. They have until April 30, 2011 to finalize a contract.
Homebuyers received an early holiday gift with this extended and expanded tax credit, and now it’s time to take advantage of it before it’s too late!
Do you know someone who qualifies? Share this great news with everyone you know.
|