How would you like to get $6,500 or even up to $8,000 just for buying a house? Well the Federal Home Buyers Tax Credit has now been extended to April 30, 2010!
The $8000 tax credit is for first time home buyers looking to purchase a home between the dates of January 1, 2009 and April 30, 2010. To be qualified for the tax credit, you must be “a buyer who has not owned a principal residence during the three-year prior to the purchase.” And your household income must also be no more than $75,000 for singles, and no more than $150,000 for married couples filing a joint return.
The tax credit applies to any home that will be used as a principal residence, including:
The tax credit will only be 10% of the purchase price of the home, to a maximum of $8000. If you meet the requirements to get the tax credit, it’s a great way to help you get your first home!
The $6,500 tax credit is for repeat home buyers who have owned a principal residence home for five consecutive years.
All of the same First Time Buyer Tax Credit rules apply to the Repeat Home Buyer Tax Credit
More information on the tax credits can be found at:
