Homebuyer Tax Credit Extended!
The House and the Senate have passed the extension of the Homebuyer tax credit and made some changes. The President is expected to sign it into law tomorrow.
For 1st time buyer’s or those who have not owned a home in the last 3 years, the tax credit is $4,000 for singles and $8,000 for couples, with income restrictions maxing out at $125,000 for singles and $225,000 for couples.
Current homeowners, who have owned a home for 5 of the previous 8 years, can now also get a credit of $3,250 for singles and $6,500 for couples with the same income restrictions.
Purchase agreements must be signed by 4/30/2010 and close by 6/30/2010
Those in the armed forces, stationed outside of the U.S. on official duty for 90 days during the period of 1/1/2009 – 5/1/2010 have an extended time frame for signed purchase agreements to 5/1/2011 and closing to 6/1/2011.
Thank you,
Matt Steinmetz
Envoy Mortgage- Voted Top 25 Tech Savvy Lenders by Mortgage Technology Magazine
2151-P Salvio St.
Concord, CA 94520
Phone 925-671-9501 x119
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