An $8,000 tax credit for first-time homebuyers

Posted on January 25, 2010
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Are you a first time homebuyer? If you are, you can get an $8,000 Tax Credit for buying a home until April 30 of this year.

The first-time homebuyer should not have had an interest in a principal residence for 3 years prior to purchase. Income limits are $125,000 for single while $225,000 for married. And the cost of home to be purchased should not exceed $800,000. The binding contract should be in effect already by April 30, 2010 but the purchaser has until June 30 to close the contract. Good deal for homebuyers, if you ask me!

I know a couple who’s thinking of buying a house now because they will soon have a baby of their own. For the past four years, they are just renting out a property but now they are ready to be homeowners finally. The 2010 Homebuyer Tax Credits is really a great way to encourage those who are planning to buy a new home to finally act on it. Before April 30, 2010! Like the couple I know. I am sure that when they hear about this tax credits, they will be encouraged more to close the deal on one of the houses they found.

For more information on the 2010 Homebuyer Tax Credits, go to ColdwellBanker.com now.

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