Homebuyer Tax Credits - Read this and hit the Contact Me button now!

Information on $8,000 Home Buyer Tax Credit

• Tax credit is for first-time home buyers only. You may not have owned a house 3 years prior to purchase.
• This credit does not have to be repaid in any form.
• Tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.
• The credit is for homes purchased on or between December 1, 2009 and April 30, 2010 with settlement completed by July 1, 2010.
• Income limits have been raised versus the previous tax credit. Married couples now qualify with incomes up to $225,000 for the full tax credit; Single taxpayers with incomes up to $125,000 also qualify.
• Purchaser must attach documentation of purchase to tax return.

Information on $6,500 Current Homeowner- Home Buyer Tax Credit

• Tax Credit is for current homeowners who have used the home sold or being sold as a principal residence for 5 of the previous 8 years.
• This credit does not have to be repaid in any form.
• New residence must be more than current residence... even if it is $1 more.
• Purchaser must attach documentation of purchase to tax return.