FIRST-TIME HOME BUYER TAX CREDIT EXTENDED & EXPANDED UNTIL APRIL 30, 2010.
Congress recently passed new legislation to continue its efforts to stimulate the U.S. housing market. The legislation includes:
*Extension of tax credit of up to $8,000 for first-time home buyers(1) until April 30, 2010.
*Expands the credit to grant up to $6,500 credit to current home owners(2) purchasing a new or exiting home between November 7, 2009 and April 30, 2010.
(1) To qualify as a first-time home buyer the purchaser or his/her spouse may not have owned a residence during the three years prior to purchase.
(2) Qualifying current home owners must have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
Additional information can be found via the "Helpful Links" section of this website.
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