Take Advantage of the Home Buyer Tax Credit Extension until April 30, 2010!


$8,000 First-time Home Buyer Tax Credit at a Glance

  • The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS define a first-time home buyers as someone who has not owned a principal residence during the three-year period prior to the purchase.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.
  • The tax credit applies only to homes prices at $800,000 or less.
  • The tax credit now applies to sales occuring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30 2010, a a home purchase completed by June 30, 2010 will qualify.
  • For homes purchased on or after January 1, 2009 and on or before November 6, 2009. the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
  • For homes purchase after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

  • To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
  • The tax credit does not have to be repaid.
  • The tax credit is euqal to 10 percent of the home's purchase price up to a maximum of $6,5000.
  • The tax credit only applies to homes priced at $800,000 or less.
  • The credit is available for home purchased after November 6, 2009 and on or before April 30, 2010. Hoever in cases where a binding sales contract is signed by April 30, 1020, the home purchase qualifies provided it is completed by June 30, 2010.
  • Single taxpayers with incomes up to $125,000 and married couplese with incomes up to $225,000 qualify for the full tax credit.

Find out NOW how you can benefit by these tax credits when you purchase your home prior to April 30, 2010. You can receive a personalized, FREE Hotlist of these affordable homes by simply filling out the form below, and clicking on SUBMIT.

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