First Time Home Buyer Tax Credit Extension – Credits of $6500 and $8000 Expire
Posted on | March 29, 2010 | 3 Comments
The first time home buyer tax credit has helped many Americans to save money when buying a new home. Unfortunately, the credits of $6500 and $8000 will expire very soon. If you have been looking to buy a new home it might be wise to take action today rather than wait.
Over the next few weeks it is highly likely that we will hear a lot of talk about the extension of the first-time home buyer tax credit. In November, the Obama administration decided to extend and expand the first-time home buyer tax credit. It is unknown if there will be an extension or expansion in April of 2010.
April 30, 2010 we will see the expiration of the first-time home buyer tax credit. If you are not under contract by this time you will be unable to receive your tax credit of $6500 or $8000. If you are looking to buy a new home and you are a first-time buyer you could qualify for up to $8000 on a tax credit.
If you have lived in your current residence for five years or more and you are looking to move up you could receive a tax credit of $6500. It is important to note that you must be under contract by April 30 or you’ll miss out on this opportunity.
Author: Alan Lake
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3 Responses to “First Time Home Buyer Tax Credit Extension – Credits of $6500 and $8000 Expire”
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March 29th, 2010 @ 6:12 pm
I am reminding people each week that we are get closer. Time is running out.
I wonder if people are noticing real estate activity spiking in their area. Here in the Eastside suburbs of Seattle, things are really moving. There are a lot of buyers out there right now and they are not just looking, they are buying.
March 30th, 2010 @ 2:59 pm
[...] There are only 31 days left to find a home, have an offer accepted, and use the 2010 home buyer tax credit. [...]
March 30th, 2010 @ 4:07 pm
[...] There is strong real estate activity in Kirkland as 7 home sales have closed in the last month. Right now, there are about 30 days to use the home buyer tax credit. [...]