Porch Talk » tax credit http://www.suedahlgren.com/blog News & Ideas from Boise’s Core Neighborhoods Fri, 12 Feb 2010 15:35:07 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 New Homebuyer Tax Credits http://www.suedahlgren.com/blog/2009/11/new-homebuyer-tax-credits/ http://www.suedahlgren.com/blog/2009/11/new-homebuyer-tax-credits/#comments Fri, 13 Nov 2009 17:28:22 +0000 Sue http://suedahlgren.com/blog/?p=72 On November 6, 2009, President Obama signed a bill to extend the tax credit for first-time home buyers. The bill also includes tax credits for others who are not buying a home for the first time.

Basically, it says that first-time home buyers (those who have not owned a home within the last three years) may be eligible for a tax credit 10% of the purchase price of the home up to a maximum of $8,000. The home must be under contract by April 30, 2010 and must close by July 30, 2010.

A new credit is also being offered to current homeowners who want to make a move. If you have owned and occupied a primary residence for five consecutive years during the last eight years, you may qualify for a credit up to $6500. The contract date and closing limits are the same as those for first-time buyers.

There are a few restrictions to this credit. Please give me a call if you are interested in hearing more about the qualifications.

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