Answer: Yes, you heard right! The tax credit for First-Time Home Buyers has been extended The President signed the tax credit extension, which moved the expiration date to April 30, 2010. The maximum amount of the tax credit did remain the same… $8000 for married couples, $4000 for those filing separately.
To be eligible for the credit, you cannot have owned a home for the last 3 years. The income limits have been raised to $125,000 for single buyers and $225,000 for married couples. You must close your transaction before June 30, 2010. The tax credit may not be used to purchase a home for more that $800,000
This is great news for First-Time Home Buyers that were not able to purchase a home by the previous deadline. So those of you that are still wondering whether or not this is a good time to buy… well, it just doesn’t get any better than this!!! Call, email or text me today and let’s get started finding you a new home!!!