Homebuyer Tax Credits Extended
Take Advantage Today
As part of the Worker, Homeownership, and Business Assistance Act of 2009, first-time homebuyers and current homeowners who are purchasing a new home can take advantage of a homebuyer tax credit. Home purchases must be made between November 6, 2009 and April 30, 2010 to be eligible. With our current low rates on mortgage loans, there is no better time to buy.
Homebuyer Tax Credit: First-Time Homebuyers
First-time homebuyers are able to receive a tax credit up to $8,000 when they purchase a home by April 30, 2010. The Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns. That can be a big help to a new homeowner to buy new furniture, pay off bills or buy some other items you might need in your new place.
Homebuyer Tax Credit: Current Homeowners
The Act includes current homeowners who are purchasing a home to receive a tax credit up to $6,500 through April 30, 2010. Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit. Eligible home buyers must have owned or resided in a home for at least five consecutive years of the eight prior years and must be purchasing a primary residence.
To learn more, please contact our Mortgage Department by calling (803) 376-5016 or send us an email.
NOTICE: This page contains basic information about The Worker, Homeownership, and Business Assistance Act of 2009 tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.