Tax Credit Extension Factoids
Facts about the Tax Credit Extension:
- 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/