2010 Tax Credit for First Time Home Buyers & Move Up Buyers
November 5th, 2009 by John Thomas
2010 Tax Credit for First Time Home Buyers & Move Up Buyers
The Senate and the House of Representatives have passed the bill and now it goes to President Obama to be signed into Law.
Highlights of the Bill;
- $8,000 tax credit for First Time Home Buyers
- $6,500 tax credit for move up buyers
- Buy a home from December 1, 2009 till April 30, 2010. Must be under contract by April 30, 2010 and close by June 30, 2010.
- Move up buyers will be eligible as long as the home they’re leaving has been their principal residence for 5 years or more
- Income Limits – $125,000 for single, $250,000 for Joint.
- For 2010 Purchasers, may claim the credit on their 2009 tax return.
- No repayment of the tax credit as long as principal residence for 3 years.
If you would like to know how you can qualify for the tax credit or need help getting approved for a mortgage to buy a home, please call me at 302-703-0727 or send an e-mail to DelawareMortgages@yahoo.com
John R. Thomas – Certified Mortgage Planner – Primary Residential Mortgage, Inc.
42 Reads Way, New Castle, DE 19720
302-703-0727 DE Office
610-906-3109 PA Office
410-412-3319 MD Office
www.prmidelaware.com
3 Responses to “2010 Tax Credit for First Time Home Buyers & Move Up Buyers”
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I am a Delaware native who has been actively involved in the Mortgage and Finance industries for over 10 years. Call me at 302-703-0727
wow.. like this info ,,,thanks for this post
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