Federal Home-buyer Tax Credit Information

by on January 6, 2010

First-time home-buyers are eligible for an $8,000 tax credit, which does not have to be repaid unless you sell your home within three years.

Repeat or move-up home-buyers are eligible for a $6,500 tax credit if they have lived in their primary residence for five years or more.

These tax credits are available to buyers who sign purchase agreements on a new or existing primary residence between November 7, 2009, and April 30, 2010. Buyers have until June 30 to close on their new homes.

The great news is that rates are still low and now is a good time to buy. Please call me if you have questions about whether you qualify for these credits.

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