Tax Credit The $8,000 tax credit for first time buyers has been extended to April 30, 2010 ( June 30 for committed contracts signed by April 30 ). The credit is 10% of the purchase price to an $8,000 maximum. Effective 11/7/09 a new tax credit of $6,500 is available to homebuyers who were existing homeowners for 5 of the previous 8 years ( based on the closing date of the new purchase ). The maximum price for a home to qualify for the existing homeowner credit is $800,000. How It Works You can … (2 comments)
Tax Credit Extension and Expansion Explained
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