Update! The White House has extended and expanded the homebuyer tax credit through June 30, 2010, as long as a binding sales contract is signed no later than April 30, 2010. First-time homebuyers and non-first-time homebuyers are now eligible for the credit. Highlights of the expanded homebuyer tax credit are:
  • The tax credit applies to homes purchased after November 6, 2009 and before July 1, 2010
  • First-time homebuyers and non-first-time homebuyers are eligible 
  • Income limits are increased to $125,000 for single taxpayers and $225,000 for married taxpayers for the full credit; and $145,000 single and $245,000 married for the partial credit.
  • Military personnel on extended duty outside the U.S. get an extra year to buy a house and claim the credit
Fedral Tax Credit Saves You $6500 to $8000
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