TAX CREDIT EXTENSION AND EXPANSION!

The federal homebuyer tax credit now has a new deadline and benefits even more people. Below are just a few qualifications for the tax credits:

FIRST TIME HOMEBUYER $8,000 CREDIT:

• This tax credit is for first time home buyers only. A qualified first time buyer must not have owned a principal residence in the past 3 years.

• The tax credit is equal to 10% of the home’s purchase price up to a maximum of $8,000.

• The tax credit is available for homes purchased on or after January 1, 2009 and has been extended to on or before April 30, 2010.

• The income limit for single taxpayers is $125,000 and for married couples is $225,000.

MOVE-UP HOMEBUYER $6,500 CREDIT:

• This tax credit is for qualified move-up or repeat home buyers only. A qualified move-up buyer must have owned and resided in a home for at least 5 consecutive years during the last 8 years.

• The tax credit is equal to 10% of the home’s purchase price up to a maximum of $6,500.

• The tax credit is available for homes purchased on or after November 6, 2009 and on or before April 30, 2010.

• The income limit for single taxpayers is $125,000 and for married couples is $225,000.

For complete information, please visit... http://www.federalhousingtaxcredit.com

Contact a Homes by Towne^® Sales Associate to learn how you can get the home of your dreams.