BREAKING NEWS ALERT!!
The Home Buyer Tax Credit bill has passed both chambers of Congress and has been signed into law by the President.
Here is a summary of the changes:
The expiration date for the credit will now be April 30, 2010.
First-time buyers who have not had interest in a principal residence for three years are still eligible, and the maximum amount remains the same $8,000 for married couples, $4,000 for those filing separately.
Current homeowners, who have consecutively maintained the home they want to sell as their primary residence for five of the last eight years, are also eligible. However, the maximum amount for those homeowners is lower: $6,500 for married couples and $3,200 for those filing separately.
The tax credit may not used to purchase a home for more than $800,000. All buyers who want to get the credit must include documentation of the purchase on their tax returns.
The income limits for both tax credits have been raised to $125,000 for single buyers and $225,000 for married couples
Feel free to contact us if you have any questions or just give Ken Asher a call (719) 930-7817
Let Ken Asher get you into a home you can afford without without any money out of your pocket.
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Tags: $8000, Colorado Springs, First time home buyer, Tax Credit