The $8,000 First Time Home Buyer Tax Credit & $6,500 Homeowner Tax Credit-The Facts
By Kristina Zack, Real Estate Specialist in Enfield
(Keller Williams Realty)
Hooray! The tax credit has been extended to April 30, 2010! Great news to those who were holding off. A cool addition came along with the extension...and it includes homeowners. Homeowners who have been living in there home 5 out of the past 8 years will qualify for a $6,500 tax credit up to April 30, 2010. Below I have broken it down.. $8,000 First Time Home Buyer Tax Credit Info A tax credit of up to $8,000 is available for first-time home buyers purchasing on or after January 1, 2009 and on or before April 30, 2010.You must have a contract written up, agreed upon, signed, and excepted by both parties on or before April 30, 2010. The home MUST close BY June 30, 2010. This will give you plenty of time to obtain a mortgage, negotiate through home inspection issues, and close on yo...
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