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Congress Extends and Expands Homebuyer Tax Credit! PDF Print E-mail
Friday, 06 November 2009

Great news for people shopping for their first home.  Congress has approved a continuation and expansion of the Homebuyer Tax Credit. 

From Realtor.org:

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

  • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
  • Expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home between November 6, 2009 and April 30, 2010.


Who Qualifies for the Extended Credit?

  • First-time home buyers who purchase homes between November 6, 2009 and April 30, 2010.
  • Current home owners purchasing a home between November 6, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
     

Read the rest of the deails here, on realtor.org.

 
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