OK... it's official. The $8000 home buyer tax credit has been extended through April 30, 2010. Actually, you must be in contract by that date and close by June 30, 2010.
The credit, which previously was targeted to first-time buyers, now includes "move-up" or "repeat" buyers - those who have lived in their principal residence for at least five years. The tax credit for these buyers will be up to $6500.
And, remember... this is a tax CREDIT and not a "deduction."
Of course, there are conditions and restrictions for this tax credit, including income limits, so it's important to call our office at (916) 241-8000 or contact a lender for more information and how it may apply to your specific situation.
Click here for additional info. www.FederalHousingTaxCredit.com.
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