THE TAX CREDIT
- Available to first-time home buyers
- Credit amount up to $8,000
- Mortgage loan must be approved on or before April 30, 2010 and must close on or before June 30, 2010
- Available on single-family detached homes, townhomes and condominiums—newly constructed or pre-existing homes
- The tax credit does not need to be repaid unless the home is sold within the first three years after purchase
Put The Newly Extended Tax Credit Legislation To Work For You!
Thinking about buying your first home? Good news—now may be a great time to make your move!
For a limited time, qualified first-time home buyers may receive a tax credit up to $8,000 as part of the extended First-time Homebuyer Tax Credit and Advance Loan Program.
If you plan to live in the home as your primary residence and have not owned a home during the past three years, you may qualify for the tax credit. As long as the home remains your primary residence for at least three years, you will not have to repay this tax credit.
