- First-time homebuyers (anyone who hasn't owned a home in the last three years) can get up to $8,000 in tax credits.
- Buyers who have owned their current homes for at least five years are eligible for a tax credit up to $6,500.
- The new law will increase the income ceiling for qualification to $125,000 for individuals and to $225,000 for married taxpayers.
- To qualify, buyers have to sign a purchase agreement by April 30, 2010.
Thursday, November 12, 2009
Homebuyer Tax Credit Extended and Expanded!
The Federal Homebuyer Tax Credit has been extended and expanded, making now the best time ever to buy a new home. Here are some quick facts about the Extended and Expanded Tax Credit:
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