Home Buyer Tax Credits Extended!

First-time Buyers! Current Homeowners!

* Amount of Credit: $8,000 ($4,000 if married & filing separately)
* Eligibility Definition: may not have had an interest in a principal residence for 3 years prior to purchase
* Termination of Credit: Written binding contract to purchase must in effect on April 30, 2010 close before July 1, 2010.
* Income Limits: $125,000 single, $250,000 married, Additional $20,000 phase out
* Purchased Home Limits: $800,000
* Purchase by a Dependent: Ineligible
* Anti-fraud Rule: Purchaser must attach documentation of purchase to tax return

View all Southern NH homes for sale under $300k and Southern NH homes for sale under $200k

Current Homeowners

* Amount of Credit: $6500 ($3250 if married and filing separately)
* Eligibility Definition: Must have used the home sold or being sold as principal residence consecutively for 5 of the previous 8 years
* Termination of Credit: Written binding contract to purchase must in effect on April 30, 2010 close before July 1, 2010.
* Income Limits: $125,000 single, $250,000 married, Additional $20,000 phase out
* Purchased Home Limits: $800,000
* Purchase by a Dependent: Ineligible
* Anti-fraud Rule: Purchaser must attach documentation of purchase to tax return

Source of information: National Association of REALTORS

This entry was posted on Tuesday, February 9th, 2010 at 4:34 pm and is filed under First Time Home Buyers, New Hampshire Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.