Congress has expanded the existing First Time Home Buyer Tax Credit to include all Home Buyers if the following requirements are met:
- The tax credit is eligible for up to 10% of the purchase price of the home or $6,500 whichever is lower.
- The new home must be purchased by April 30th, 2010 and closed by June 30th, 2010.
- The home buyer must have resided in their current home for five consecutive years out of the past eight years they have owned the home.
- Income eligibility to qualify for the tax credit is up to $125,000 for individuals and $225,000 for married couples.
Please contact me at: firstname.lastname@example.org if you have any questions regarding the new and expanded Home Buyer Tax Credit Package.