Home Buyer Credit

Take Advantage of Buyer Tax Credit Extension Now!

The democrats have excitedly announced the Home Buyer Tax Credit extension. The program which gives incentives for people to buy homes and help the real estate industry is set to expire at the end of November 2009. Under the $8000 First Time Home Buyer Tax Credit program, first time home buyers will get $8,000 tax credit incentive. They don’t have the obligation to pay it to the government. If they cannot close a home before Dec. 1, 2009, they will not get the tax credit.

But now, Senators have announced that the program is extended until April, 2010. This is good news not only to those who want to buy houses but also to home builders and other people that depend on the real estate industry. It creates jobs in the construction business since home builders are expecting more traffic sales of homes. Real estate agents and sellers of home furniture are also getting more income since the program started.

Home Buyer Tax Credit Extension For Repeat Buyers Too!

To date, there are almost 200,000 new home sales because of this program. With the home buyer tax credit extension, more sales are expected. There are also a number of changes with the new home buyer tax credit extension. The first is that it is open not only to first time home buyers. Those who haven’t bought a home in 5 years are also included in the program. This means that if you have been living in your house for 5 years, Dec. 1, 2009 to April 2010 is the best time to close a home because you will get tax credit of up to $6,500.

In the $8,000 first time home buyer tax credit program, the only ones who are eligible are those who are earning at most $7,500 for singles and $150,000 for those who are married. If you are single and earning $8,000 a year and you want to buy a house, you are not eligible to the program. But with the extension, more people will be eligible. You can now apply if you earn up to $125,000 if you are single and $250,000 if you are married.

You can also get up to $10,000 in tax credit when you buy a house from Dec. 2009 to April 2010. If you have been dreaming of owning your own home, then today is the perfect time to buy one. The government is giving you tax credit which you don’t need to pay for. The incentive will give you ease in paying for your home. Go ahead and realize your dream of owning a beautiful home. Take advantage of home buyer tax credit extension today!