Home Buyer Tax Credit Extension and Expansion

The Colorado Springs Real Estate Connection (Wagner iTeam) is happy to announce that the $8,000 Home Buyer Tax Credit HAS been extended! It passed Congress and was signed into law by President Obama last Friday!

To qualify for this First Time Home Buyer Tax Credit extension, you must not have owned a home in the last 3 years. Income limits for this tax credit have been raised and now are: * $125,000 per individual (previously was $70k) or * $225,000 per family (previously was $150,000)

In addition to that,this new law offers $6,500 tax credit to EXISTING home owners who have lived in their current home for 5 consecutive years of the last 8 years, and want to "move up" and buy a different home (up to $800,000)!

In both cases, the home must go under contract by April 30, 2010 and close by June 30, 2010.

Not only does the extension help first time home buyers get a home, but it also helps reward current home owners who have stuck it out through this shifting market.

Mariana Wagner - Wagner iTeam
Keller Williams Hope Realty
Colorado Springs CO
719.434.7525

Category:

News & Politics

Tags:

• tax credit
• colorado springs real estate

[boots920]

The future of USA

Detroit

The Central Bank is just counterfeiting money rise in gold price proves this !!!