Home Buyer Tax Credit Extension a Reality--Expansion Joins | General Homebuying Discussion | Boise Real Estate Forums

Like it or not, the First Time Home Buyer Tax Credit has been extended from it's original deadline of November 30th, 2009 to April 30th, 2010. Not only did the Tax Credit get extended, it also got expanded.

First Time Home Buyer Tax Credit Changes

Extension

• Tax Credit Expires April 30th (must have a binding contract to purchase), 2010, HOWEVER, you  have until July 1, 2010 to close (sign escrow paperwork)
• $8000 Tax Credit applies to First-Time Home Buyers.

Expansion

The New Tax Credit goes beyond First Time Home Buyers

• Tax Credit Expanded to include current homeowners who are selling or who have sold a home that they lived in (primary residence) for 5 out of the last 8 years.

For more information about the tax credit, please call me, email or leave your comments here on Boise Real Estate Soup dot com.  Or, click HERE for a flier on the Tax Credit.

Read original blog post