The Worker, Homeownership, and Business Assistance Act of 2009 extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.  If you purchase a home by April 30, 2010 and close by June 30, 2010, you may qualify for one of the two available tax credits. The first-time homebuyer credit is for buyers who have not owned a home during the last 3 years. The other credit is for current homeowners who have used the home they are selling or vacating for 5 consecutive years within the last 8 years. The credit is 10% of the purchase price of the home up to $8,000 for first-time homebuyers and $6,500 for current homeowners.

There are two other considerations:

1. The home you purchase must be $800,000 or less.
2. If your income for a single person is up to $125,000 or $225,000 for married people filing jointly, you will qualify for the full credit.

In addition to complimentary counseling at the Davidson Realty Tax Credit Open Houses, we also offer a free Homebuying Kit that comes complete with:
    * Timeline for Buying a Home
    * Resource Contact List
    * Terminology Guide
    * Mortgage Programs
    * Sample Payment Options
    * Community Overviews

Now’s your chance.  Stop by the Davidson Realty office during our Tax Credit Open Houses any Saturday through April 17th and learn more.