Enhanced Tax Credit Provides Outstanding Opportunity for Home Buyers

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.

The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.


Tax Credit at a Glance

FAQ about Extended First Time Homebuyer Tax Credit

FAQ about Move-Up/Repeat Home Buyer Tax Credit

Find a Realtor to Help

Find a Mortage Lender

If you would like to join CENTURY 21 Larry Miller Realty and their Expert Support Staff for a FREE Seminar on the Tax Credit, please click here to request more information.