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Don’t Miss the April 30th Tax Credit Deadline
In: Tax Credit
20 Apr 2010
The popular $8,000 federal housing tax credit is set to expire April 30, 2010.  The tax credit gives a first time homebuyer a credit up to $8,000 and up to a $6,500 credit for a repeat homebuyer who has owned a home for five consecutive years out of the previous eight years. At this time it does not appear that the government will be extending the tax credit.Â
Time is short! To take advantage of the tax credit a homebuyer must have a binding contract in place by April 30, 2010 and the sale must close by June 30, 2010.  Finally, the government will allow you to purchase your home in 2010 and claim it on your 2009 tax return.Â
Act now! Now is the best time to purchase your new home. The federal tax credit combined with historically low rates and low home prices offers a unique opportunity to purchase your dream home.  For more information on the tax credit visit FederalHousingTaxCredit.com.
Authored by Jeff Sickeler, Sales Manager for WFS Mortgage, LLC an Affiliate of Wells Fargo Home Mortgage
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