Thursday, November 05, 2009

Senate Approves Extension and Expansion of Homebuyer Tax Credit

Yesterday the Senate voted 98-0 to extend the first-time homebuyer tax credit and to add a new group of buyers to the fold. The extension means buyers have until April 30, 2010 to sign a purchase agreement and until June 30 to close. The House will vote later today.

Previously only first-time buyers could qualify for a tax credit (worth $8,000). Now, buyers who have owned their current home for at least 5 years can qualify for $6,500 towards a new home. The $8,00 credit will go to both first-timers and those who haven't owned a home in three years. To qualify the homes must be less than $800,000 and buyers can make up to $125,000 per individual or $225,000 per couple (now capped at $75,000 and $150,000).


Justin on Jan 8, 2016, 1:12:00 AM said...

Recollecting this is a helpful method for getting things in extent, so we don't dismiss the way that financial matters is principally about the choices we make in order to make an environment that we can very in. For all intents and purposes, this implies at both the individual level and the national level we need to question what we mean by development. payday loans chicago


DCmud - The Urban Real Estate Digest of Washington DC Copyright © 2008 Black Brown Pop Template by Ipiet's Blogger Template