Extended Credit For First Time Homebuyers:

• Extended for first-time homebuyers who purchase homes between November 7, 2009 and April 30, 2010.
• Maximum tax credit amount is $8,000
• All principal residences are eligible
• First time homebuyers only; or if you have not owned a home during the 3 years prior to the purchase 
• Credit is determined by the price of the home and the buyer's income
• Credit may only be awarded on homes purchased for $800,000 or less
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 may qualify for the full tax credit**
• If home is sold within 3 years of the purchase, the entire amount of the credit is recaptured at the time of sale
• If binding contract to purchase is in effect on April 30, 2010 purchaser will have until July 1, 2010 to close.

**Changed from original 2009 First-Time Homebuyer Tax Credit. Contact us for more information

Extended Credit For Existing Homeowners:

• Extended for first-time homebuyers who purchase homes between November 7, 2009 and April 30, 2010.
• Maximum tax credit amount is $6,500
• All principal residences are eligible
• Current homeowners who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight 
• Credit is determined by the price of the home and the buyer's income
• Credit may only be awarded on homes purchased for $800,000 or less
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 may qualify for the full tax credit
• If home is sold within 3 years of the purchase, the entire amount of the credit is recaptured at the time of sale
• If binding contract to purchase is in effect on April 30, 2010 purchaser will have until July 1, 2010 to close.

To find out if you are eligible to receive the tax credit, or for more information call us at 651-787-9555 or email us today!