Home Buyer's Tax Credit

THE HOME BUYER'S TAX CREDIT IS COMING TO AN END

TAKE ACTION NOW!

KNOW YOUR CREDIT SCORE

BE INFORMED

Here is what you need to know:

• Qualified 2009-2010 first time home buyers may receive up to 10% of the home's purchase price or a maximum of $8,000.  This credit has also been extended to include current homeowners who purchase a new primary residence (this is also up to 10% of the purchase price or a maximum of $6,500).  Current homeowners must prove they have lived in their home for the last five-consecutive years.
• This credit does not have to be paid back as long as you live in the home for 3 years.
• This credit can be applied to this year's taxes, even if you have already filed (amend with the required form) or you may wait till your 2010 returns.
• This is a tax credit, not a deduction.
• New income qualification limits have been put in place to expand the pool of those who will qualify.

To qualify for this credit you must have a contract in place by April 30, 2010 with a closing taking place by June 30, 2010.

There are many details involved with this credit that should be considered so do not hesitate to contact us now.

HOW DO YOU CLAIM YOUR CREDIT?