First time buyers - your $8,000 tax credit is waiting for you

Lots of questions from my buyers on this in the last two weeks, so here is the highlights on the first time home buyer's tax credit for my buyers:

The Federal Housing Tax Credit provides up to $8,000 for first-time home buyers who purchase/close on a home between January 1, 2009 and December 1, 2009. If you closed prior to January 1, you may qualify for the previous $7,500 program.

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers. This replaces the $7,500 first time homebuyer credit that had to be repaid over 15 years. Use the links below to find out more about the tax credit. Here are some highlights of the tax credit, for more details or answers to frequently asked questions, please visit the link below: · The tax credit is for first-time home buyers only.

· The tax credit does not have to be repaid, unless you sell the home in the first 3 years.

. The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

· The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

· Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

For complete details visit: http://www.federalhousingtaxcredit.com/2009/home2.html