Homebuyer tax credits package

• Extends tax credit of up to $8,000 for first-time buyers - anyone who hasn't owned a home in the last three years - until April 30, with closing before July 1.
• Adds tax credit of up to $6,500 for current homeowners - buyers who have owned their current home for at least five years - until April 30, with closing before July 1.
• Home price for either credit is capped at $800,000.
• Credits are available only for homes that will be principal residences.
  Income limits for eligibility for either credit are $125,000 for singles and $225,000 for joint filers.

jroosevelt@kw.com