Santa Fe Gay Life Real Estate

On Friday, the President signed an extension and expansion of the Home buyer Tax Credit through April 30, 2010, as long as the home is under contract by that date and closing occurs by June 30, 2010.

An $8,000 tax credit is available for first-time home buyers (those who have not purchased a home within the last three years) and a credit of $6,500 is also for homeowners who have lived in the home they are selling, or have sold, as a principal residence for five consecutive years in the past eight.

 

These credits are available to buyers with incomes below $125,000 for singles and $225,000 for married couples. Homes valued at more than $800,000 are not eligible.

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