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Tax Credit Review

Movoto Team

103 articles, 0 comments

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

For more information about the tax credit, visit the IRS website. To find homes that are within your price range, visit Movoto.com.

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posted on: January 11, 2010
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2 Comments

  1. Mike

    thanks for your posting.

    You need to fit all the requirements…including the three years, right?

  2. Movoto Team

    Hi Mike,

    Three years, if you are an existing homeowner, which can get you up to $6,500. If you are a first-time homebuyer, then you can get up to $8,000.

 

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