Nashville Real Estate

Tax Credit Extension Factoids

Facts about the Tax Credit Extension:

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  • First Time Homebuyers (Not having owned a primary residence in previous 3 years) may receive a tax credit of 10% of the purchase price of the home up to $8,000.
  • Current Homebuyer Credit – $6500 for current homebuyer buying a move-up home but must have lived in previous home for 5 of the previous 8 years.
  • $75,000 income limit applies to single, $225,000 to married couple.
  • Maximum price of home – $800,000
  • Credit End Date – April 30, 2010

For more information, please click the link below: http://www.realestateeconomywatch.com/2009/11/congress-passes-homebuyer-tax-credit/

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