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Move-up Buyers & First Time Home Buyer Tax Credit Questions & Answers for Missoula Homebuyers
Here's a Great Summary of the First Time Home Buyer & Repeat Buyer Tax Credit for Missoula and Western Montana home buyers.

First Time Home Buyer & Repeat Buyer Tax Credit QUESTIONS & ANSWERS Explained  
All new first time home buyer and repeat buyer Tax Credit are effective immediately. It does not have to occur on December 1 2009 in order to qualify. All closings occurred on November 6 2009 qualifies for the new & improved first time home buyer and repeat buyer tax credit.
First Time Home Buyers
The $8,000 first time home buyer tax credit applies to home buyers that purchase homes at $80,000 or more. Anything less than $80,000, the tax credit that applies is 10% of the purchase price.
Repeat Buyers
There is NO PROVISION that stipulates that the Repeat Buyer must purchase a home more expensive than the one sold. There is NO PROVISION that says the Repeat Buyer must sell the home before the new one close. Qualifying sale of existing principal residence must be any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased. New Income Limits
For home purchases on or after November 6 ... more

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