Home buyer tax credit expires soon!

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I know what you are thinking. “Didn’t this expire last year?” The answer is yes, for most of us. The tax credit was extended for active military. The tax credit amounts and dates are similar to the tax credit that was available to everyone else, but let’s take a look at the details to be safe.

  • $8,000 tax credit for first time home buyers
  • $6,500 for repeat home buyers (must convert to new primary residence)
  • Must be under contract by April 30, 2011
  • Must close by June 30, 2011
  • Home buyer must be a qualified service member
  • Home buyer must have served extended duty outside the United States anytime between December 31, 2008 to May 1, 2010

If you know someone who is currently serving in the military OR was serving during those dates, let them know they might be eligible to receive one of the tax credits. Time is counting down to the end of April, but there is still time left to get started. I can help with the prequalification, and they only need to be under contract (not closed on the home) by the end of April.

It is great to see this extra benefit being extended to members of our military. Now let’s make sure that everyone we know who has recently served or is serving knows about this tax credit!

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