As many of you know the 1st time homebuyer tax credit has not only been extended into 2010 but it has also been expanded to include current home owners as well. Below is a bullet point summary of this great home buyer program.
1ST TIME BUYERS: (does not mean you can never have owned a home - if you have not owned a home in the past 3 years you are again a first time home buyer)
* have not owned a home in past 3 years
* must be 18 years of age or older
* income under $125,000 for individual $225,000 for couples
* purchase price must be under $800,000
* credit of 10% of purchase price up to $8000
* must have accepted offer on home by April 30,2010 and closed by June 30, 2010
* must be your primary residence
Current Homeowners:
* all above criteria applies +
* must have lived in your current home as your primary residence 5 of the past 8 years ( you do not have to sell your current home to buy under the tax credit however the one you buy must become your primary residence)
* no "move up" requirement - you can downsize
* military personal are exempt from these requirements
* your credit is 10% of purchase price up to $6500
There has never been a better time to buy.....property values lower than we have seen in years and years, interest rates are outstanding and up to $8000 Tax Credit. You can't beat it!!!
Call Jon Becker - Century 21 Northland today to help you find your next home and take advantage of this great incentive!!!
231-342-5401 jon@c21jb.com www.c21jb.com
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