First Time Home Buyer’s Tax Credit Approved
Big News
First Time Home Buyer Tax Credit approved by Congress.
President Obama is expected to sign a bill passed by Congress today extending and expanding the first-time homebuyer tax credit to homes under contract before May 1.
The credit, equal to 10 percent of a home’s purchase price, remains capped at $8,000 for first-time homebuyers, but income limits have been raised.
Congress also approved an expansion of the credit to allow homeowners who have been in a principal residence for at least five of the last eight years to claim a tax credit of up to $6,500 if they sell that home and buy another.
WOO HOO! Time to go buy a house.
Give me a call. Linda Bills 801-347-3384
