Tax Credit Extension Facts

Facts about the Tax Credit Extension:

First Time Homebuyers (Not having owned a primary residence in previous 3 years) may receive a tax credit of 10% of the purchase price of the home up to $8,000.

Current Homebuyer Credit – $6500 for current homebuyer buying a move-up home but must have lived in previous home for 5 of the previous 8 years.

$75,000 income limit applies to single, $225,000 to married couple.

Maximum price of home – $800,000

Credit End Date – April 30, 2010

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