$8000 HomeBuyers Tax Credit
The Tax Credit is for home buyers (either spouse if filing jointly) who have NOT owned a principle residence during the three-year period prior to the purchase. Ownership of vacation property or rental property does not disqualify home buyers from this program.
- The maximum credit
is $8,000 or 10% of the home purchase, whichever is less.
- The credit is available for homes purchased on or after January 1, 2010, under contract before April 30th, 2010 and closed by June 30th, 2010
- There is also a tax credit available for homeowners who wish to buy up and have owned their home for 5 or more years. The amount of this credit is $6500.
- The full amount of the eligible tax credit is refunded to the buyer, regardless of whether the buyer has paid an equivalent amount in taxes.
- Please feel free to call me for more information or to purchase your new home!