2009 Stimulus Expands and Extends the Federal Homebuyer Tax Credit!
$8,000 for Qualified First Time Home Buyers
$6,500 for Qualified Repeat Home Buyers

The Federal government has expanded and extended the Homebuyer Tax Credit. This is excellent news as you think about building your new History Maker Home!

The most significant changes to the Homebuyer Tax Credit are:

• Expansion of the credit to include a $6,500 credit for current homeowners purchasing a new or existing home between November 6, 2009 and April 30, 2010.
• Extension the First-Time Homebuyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
• Contracts must be signed on your new home by April 30, 2010 and must close by June 30, 2010.
  Now is the time to begin building your History Maker Home - exactly the way you've always imagined it - with the help of the Homebuyer Tax Credit.

$8000 Tax Credit for First Time Home Buyers

• Tax credit is for first-time home buyers only.
• The tax credit does not have to be repaid.
• Tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• Tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010.
• Homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
• Homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

$6500 Tax Credit for Repeat Buyers

• Eligibility to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
• The tax credit does not have to be repaid.
• Tax credit is equal to 10 percent of the home's purchase price up to a maximum of $6,500.
• Tax credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

Federal tax credit of up to $8,000 available to qualified first-time home buyers. Federal tax credit of up to $6,500 available to qualified current homeowners purchasing a new principal residence. Qualification for tax credit based upon first-time home buyer status/current homeowner status, modified adjusted gross income, purchase price of home and other IRS qualifications. Both tax credits are subject to conditions and restrictions. Both tax credits are only available for a limited time. General information is available at www.FederalHousingTaxCredit.com.