THE TAX CREDIT HAS BEEN EXTENDED AND EXPANDED!
The very popular government tax credit now has a new deadline, and benefits even more people!Here are a few qualifications of the tax credits:
First Time Homebuyer Credit - $8,000
- Buyer must not have owned a home in past 3 years
- Income limits of buyer(s) must not exceed $125k for singles and $225k for married, filing jointly
- The qualifying amount is 10% of the purchase price, up to $8,000
- Extended Deadline - May 1, 2010
- Frequently Asked Questions
Move-up Homebuyers - $6,500
- Buyer must have owned/occupied a previous home for at least 5 consecutive years during the last 8 years
- Income limits of buyer(s) must not exceed $125k for singles and $225k for married, filing jointly
- The qualifying amount is 10% of the purchase price, up to $6,500
- The purchased home must be a primary residence and be less than $800k
- Deadline - May 1, 2010
- Frequently Asked Questions
