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First-Time Homebuyers -- You may be eligible for a tax credit of up to $8,000.
If you are a first-time home buyer (or haven’t owned a home in the past three years), the housing bill may enable you to receive this valuable tax credit. The tax credit is equal to ten percent of the home’s purchase price up to a maximum of $8,000.
Current Owners -- You may be eligible for a tax credit of up to $6,500.
This incentive comes in the form of a tax credit for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Take advantage of the extended deadlines.
In order to quality for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Find out more about the first-time home buyer tax credit.
*Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. Lesser credits are available for single taxpayers making up to $95,000 and married couples making up to $170,000.
Aronov Homes has no representation on government sponsored programs.