$8,000 Homebuyer Tax Credit Extended, Expanded to $6,500 for Repeat Homebuyers

Income limits raised for tax credit qualification!

$8,000 Homebuyer Tax Credit Extended, Expanded to $6,500 for Repeat Homebuyers
 
The government has significantly extended and expanded tax credits available for homebuyers. I want you to have accurate information about the homebuyer tax credits.
 

Homebuyer Tax Credit Facts:

  • EXTENDED! Up to $8,000 tax credit available to first-time homebuyers.
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  • NEW! Up to $6,500 tax credit available to repeat homebuyers.
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  • NEW DEADLINES!
     

    • Start Date: both tax credits apply to home purchases occurring after November 6, 2009.
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    • Contract Date: both tax credits apply to contracts signed by April 30, 2010.
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    • Close Date: both tax credits apply to home purchases closed before June 30, 2010.
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  • To qualify for the $6,500 tax credit, repeat buyers must have used the home sold or being sold as a primary residence consecutively for 5 of the previous 8 years.
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  • The tax credit is not repaid if the home is used as a primary residence for 3 years or more.
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  • EXPANDED! Qualifying income limits have been raised:
    •  From $75,000 to $125,000 (single tax return);
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    • From $150,000 to $225,000 (joint tax return).
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    • Tax credit may be awarded only on homes purchased for $800,000 or less.

 
More incentives to buy a home:

  • Housing affordability is near its highest level in 18-years;
  •  Mortgage rates remain at 37-year lows.

 
The Leaman Team wants to make sure your questions are answered. Please call The Leaman Team today to discuss your home financing: (800) 301-3405 or email Team@MaxLeaman.com.