January 26, 2010
Also referred to as the Homeowners $6500 Tax Credit follows all the same income and qualifying date requirements as the FTHB1 tax credit. This credit is intended to be used for new buyers in the market that have owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. If it is a married couple, both spouses must qualify as long-time residents, with at least five years of principal residency for
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January 26, 2010
There is really not a whole lot more that needs to be said that my other article here has not covered. Other than the dates, some changes to the income limits and the addition of the move-up buyer tax credit the 2010 credit is same. There is one advantage to those closing after November 7, 2009 that they would not have had prior — that is the Modified Adjusted Gross Income1 for qualifying person(s) being raised. The 2010 First Time Home Buyers
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