$8,000 Tax Credit For First Time Homebuyers
Update as of October 29, 2009: The First Time Homebuyer tax credit extension seems to be in its final stages. The credit extension is being extended until April 30, 2010 with a possibility of a few new provisions to open the program to current home owners looking to “move up” to that next level home. Read the article below to stay up to date on the latest news with the tax credit. View more
A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid. In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.
But time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. Use the links below to find out more about the tax credit.
Learn more on how to take advantage of this federal tax-credit.