This tax incentive ends April 30, 2010! But there is still time to act.
To qualify, you must be under written contract by April 30, 2010 - and must close on the sale not later than June 30, 2010.
- For first-time home buyers, the credit is 10% of purchase price up to $8000. And guess what - you can qualify for a first-time home buyer credit even if you've previously owned a home. But you must NOT have owned for the past 3 years.
- For move-up buyers, the credit is 10% of the purchase price up to $6500.
- There are income limits for eligibility, but they are generous.
So take action now if you've been hoping to buy a home. Indications are that prices are stabilizing and will now continue to gradually increase. And interest rates are probably on the rise soon as well. Now is the time to buy!
Contact me at 314-406-3200 for questions about buying your home! I'm ready to help.