Right now people have lots of questions about the Home Buyer Tax Credits. These Tax Credits are only available through 04/30/2010; and buyers who qualify want to make sure they get them. There are two types of home buyer tax credits:
* First Time Home Buyers – those who have not owned a home during the last three years – could be eligible for the $8,000.00 tax credit.
* Repeat Home Buyers – those who have owned and lived in their current home for 5 of the last 8 years – could be eligible for the $6,500.00 tax credit.
In addition to benefiting buyers, the First Time Homebuyer tax credit is a great benefit to sellers whose homes are within the price range of typical first time homebuyers. The Repeat Home Buyer tax credit is a great benefit to sellers whose home are priced above the price range of typical first time homebuyers.
If you would like detailed information about these tax credits, you can go to the following link: http://www.federalhousingtaxcredit.com/. This site provides the following info : FAQ: First Time Home Buyers; FAQ: Repeat Buyers; Military Service Rules; and Key Infomation.
Happy Buying and Selling!
by June Nelson