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Monday, 30 November 2009 / Published in Home Buyers

First-Time Homebuyer Tax Credit Extended

The First-Time Homebuyer Tax Credit has been extended until April 30, 2010, as long as the home is under contract by that date; the transaction must be completed within 60 days.

 Eligibility and amount of new credit:

  • $8,000 for first-time homebuyers (those who have not owned a home in the last three years).
  • Up to $6,500 credit for homeowners who have lived in the home they are selling, or have sold, as a principal residence for five consecutive years in the past eight.
  • Buyers with income exceeding $125,000 for single and $225,000 for married couples are not eligible. 
  • Homes valued at more than $800,000 are also ineligible.
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Tagged under: $6500 credit, $8000 First-Time Homebuyer Tax Credit, First-time Homebuyer Tax Credit

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Kevin Toll Group, LLC 
Long & Foster RE, Inc.
Cell: 610.609.1096
Office 610.449.2600
Email: kevin.toll@LongandFoster.com

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Kevin Toll Group, LLC Team Leader and Recruiter  |  Keller Williams Empower | Cell: 610.609.1096  |  Office: 610.897.0000
Email: Kevin.Toll@TollRealtyGroup.com
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