First Time Home Buyer Tax Credit Extension – $6500 and $8000 Credits Set to Expire on April 30th, 2010
Posted on | April 27, 2010 | Comments Off
A first time home buyer tax credit extension has been a very hot topic on Washington this week. The $6500 and $8000 tax credits are set to expire on April 30th, 2010 and many first time and move up home buyers are wondering if there is going to be an extension. At this time it looks as if there will be no extension and the expiration will take place on Friday.
If you are a first time home buyer then there is a very good chance that you could qualify for the $8000 tax credit that is currently available. If you are looking to move up then you could take advantage of the $6500 tax credit. To receive this credit you must have lived in your primary residence for five years or more.
For both of these tax credits, buyers must be under contract by April 30th, 2010. If you are not under contract by this date then you will not be able to receive the $6500 or $8000 tax credit. With this being the case it will come as no surprise to see many first time and move up buyers working very hard to get under contract.
Author: Heather Best