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First-Time Homebuyer Tax Credit

Eligible first-time homebuyers who purchase by April 30, 2010, can qualify for a tax-credit of 10% of a home’s sale price, up to $8,000 for single and joint filers and $4,000 for married individuals filing separately. To qualify, buyers or their spouses may not have owned a residence during the three years prior to the purchase.

New: $6,500 Tax Credit for Current Homeowners

Eligible current homeowners purchasing a home by April 30, 2010, may qualify for a tax credit up to $6,500. To qualify, homeowners must have owned and resided in a home for at least five consecutive years of the eight years prior to the purchase date.

Deadline


Homebuyers must have a written, binding contract to purchase in effect by April 30, 2010, and must close by June 30, 2010.

Contact The Newlywed Real Estate Agent at 832-647-1769 or donte@TheNewlywedRealEstateAgent.com for more details.