Home buyer tax credit has been expanded and extended! 11/10/09
Great news! The tax credit has just been expanded and extended, and this time repeat purchasers will also benefit! Here are some highlights of the new Repeat Purchase tax credit.
1. Buyers must have owned and lived in their previous home consecutively for 5 out of the last 8 years.
2. The tax credit does NOT have to be repaid!
3. The tax credit is equal to 10% of the home's purchase price up to a maximum of $6,500.
4. The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. *See link for more information on dates.
5. Income limits are as follows: Single taxpayers up to $125,000 and married couples $225,000 qualify for the full tax credit!
More Information:
Tax Credit at a Glance
FAQ -Repeat Buyers
If you or someone you know might benefit from this new tax credit please contact me for more information. I'm always happy to help!
Abby
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