First Time Home Buyer Tax Credit Extension – 2010 Tax Credit for $8000
Posted on | March 7, 2010 | 1 Comment
The first time home buyer tax credit extension was a very popular topic at the end of 2009 but many future homeowners have dismissed this thought during January and February. As the weather starts to warm and Americans realize this credit is close to expiration many more people are looking to take advantage of the 2010 tax credit for $8000.
If you are in the market for your first home you could benefit from not only an $8000 tax credit but also affordable home prices and very low mortgage interest rates. This is one of the best times in the history of the housing market to purchase a home if you plan to live in that home for a significant period of time.
Not only is there a tax credit for $8000 available in early 2010 but there is also a tax credit for $6500 that move up buyers can take advantage of. If you have lived in your current residence for more than five years then you can receive a tax credit of $6500 for “moving up” into a new home before April 30th.
With April 30th, 2010 just around the corner many future homeowners are scrambling to take advantage of this extra money. There are many free resources available to help you better understand the rules and regulations of the first time home buyer tax credit so make sure to take advantage of these resources.
Author: Jeremy North
Comments
One Response to “First Time Home Buyer Tax Credit Extension – 2010 Tax Credit for $8000”
Leave a Reply
March 7th, 2010 @ 8:35 pm
People who were married in the last 3-5 years whose home ownership status were not together are currently ineligible due to the screwy way that the bill was written and IRS interpreted the same.
My wife and I disqualify each other. If were were two single persons, we each could qualify – me as a repeat buyer and her as a first time. But as a married couple, we are shafted.