“There are two different Buyer tax credits available. The first is the First Time Home Buyer tax credit, which is an $8,000 tax credit available to first time home buyers. In order to be eligible, you must have a contract on a house by April 30th, 2010 and must close on the house by July 1, 2010. The other tax credit is a $6,500 tax credit offered for Buyers who are current homeowners and have resided in the same house, as their primary residence, for at least 5 consecutive years prior to the purchase/closing date. Both tax credits have limitations on income level and price of property. It is best to consult with your accountant and/or real estate agent to get full information and details. Remember, there are only 15 days left!”
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