Tax Credit has been EXTENDED!!!

First Time Homebuyer Tax Credit
Has Been Extended!!





TAX CREDIT FOR FIRST TIME BUYERS:

First Time Homebuyers: First time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for is 10% of the purchase price of the home, with a maximum available credit of $8,000.
Single taxpayers and married couples filing a joint return may qualitfy for the full tax credit amount.

CURRENT OWNERS:

The tax credit program now gives those who already own a residential some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of 5 consecutive years during the last 8 years. Single taxpayers and married cuples filing a joint return may qualify for the full tax credit amount.

WHAT ARE THE NEW DEADLINES?

In order to qualify for the credit, all contracts need to be in effect no later than APRIL 30, 2010 and close no later than JUNE 30, 2010.

-provided by the Steven Kyles Team