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Are you Ready To Buy Yet?

December 3rd, 2009 9:40 AM by Sam Kader

Check out how much you will save if you are buying.

Tax Credit extended to 4/30/10 and must close by 6/30/10.

  • Up to $6,500 for move-up buyers (must live in previous homes for 5 out 8 prior consequtive years)
  • Up to $8,000 for First-Time Home-Buyers with Modified AGI of $125,000 and $225,000 for single and joint-filers respectively.
  • Must be 18 years old and cannot be claimed as dependent.
  • Credit is given as long as at least one borrower qualifies (credit can't be given to non-qualified borrowers).

IRS will issue a revised Form 5405 sometime this month to claim for credit.  



Posted in:General
Posted by Sam Kader on December 3rd, 2009 9:40 AM



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