Home Buyer Tax Credit

Home Buyer Tax Credit Has Been EXTENDED & EXPANDED...
 

From now until April 30, 2010, first-time home buyers and move-up buyers have another great reason to get on the path to purchasing a new home!   The benefit to first-time homebuyers is a tax credit up to $8,000 and for move-up buyers a tax credit up to $6,500.

AT A GLANCE:

FIRST TIME BUYERS

CREDIT: Equal to 10 percent of the home's purchase price, up to $8,000

WHO QUALIFIES?

Those who haven't owned property in the last three years

Those with income up to $225,000 for couple or $125,000 for individuals (credit phases out for people who make more than these amounts )

Must be at least 18 years of age to claim credit

Purchase price must be $800,000 or less

CURRENT HOMEOWNERS

CREDIT: Equal to 10 percent of the home's purchase price, up to $6,500

WHO QUALIFIES?

Those who have owned and lived in their principal residence for at least five consecutive years during the past eight years

Those with income up to $225,000 for couples or $125,000 for individuals (credit phases out for people who make more than these amounts )

Must be at least 18 years of age to claim credit

Purchase price must be $800,000 or less

DEADLINES:

Have until April 30, 2010, to enter into contract for a home purchase

Have until June 30, 2010, to close on the purchase

Start your home search NOW!  Click on the MLS Property Finder button below & register for FREE access to the Cape Cod MLS.