$8000 REASONS TO BUY A HOME NOW!

 

BREAKING NEWS

 

The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature.

 

First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package. The newly backed program will expand the credit to include existing home owners.

 

Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home. To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.

The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.

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The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011.

Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "This is probably the last extension."

 

         

  Uncle Sam is giving away up to $8000.00!

    Time is running out…..

To qualify for the credit, the real estate contract must close between

January 1, 2009 and November 30, 2009.

To ensure a timely closing, an accepted contract should be in place, with sufficient time, prior to November 30, 2009.

 

  

If you and/or your spouse have NOT owned a home anytime within the last 3 years

and

have an adjusted gross income of $90,000 or less if you are single,

or 

$165,000 or less for married couples,

you qualify for the tax credit.

 

The amount of the credit decreases as income approaches the maximum limit.

 

The credit applies only to homes used as a taxpayer's principal residence

and you must agree to live in the house for at least three years.

Uncle Sam has made it easy to get…..just claim it on your tax return.

The credit is fully refundable to eligible taxpayers, dollar for dollar, even if they do not owe taxes or the credit is more than the tax owed.

Ask about how you may be able to apply the rebate funds to closing costs.

 

For a free brochure with all the details, click on the RED logo and it will automatically be sent to your email address.