TaxCreditExtended_110609

Homebuyer Tax Credit Extension

It is official. President Obama has signed the Homebuyer Tax Credit today and extended the benefits. The new extension allows homebuyers to be under contract by April 30th and close on the house by June 30, 2010.

The housing tax credit portion of the bill extends the $8,000 tax credit for home buyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to other homeowners who have lived in their current home for at least five years and are seeking to relocate.

Another modification to the original legislation raises the income limits for program participation from $75,000 for a single purchaser to $125,000 and from $125,000 to $225,000 for a couple.

This is great news for first time home buyers and people who are looking to relocate.

Contact our staff for more information about the Tax Credit.

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Texas Home Loan Team
1st Advantage Mortgage
www.txmortgagespecials.com
info@texashomeloanteam.com
817-804-4960