Still thinking of buying a home while the 2010 Homebuyer’s tax credit is available? With tax season on the horizon, many buyers are setting their sights on saving as much as possible. Remember, first-time homebuyers are eligible for a tax credit of up $8,000 and repeat homebuyers are eligible for a tax credit of up to $6,500, but here’s a quick refresher on who qualifies:
- Homebuyers who have signed a binding sales contract by April 30, 2010 and completed a home purchase before June 30, 2010
- Single homebuyers with an income limit of $125,000
- Married homebuyers with an income limit of $225,000
- Homebuyers purchasing a home under $800,000
- Homebuyers who have not owned a home for 3 years
- Existing homeowners who have owned their primary residence for at least 5 consecutive years
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