Go back

When do I need to purchase a home to qualify for the first time home buyer's tax credit?

The tax credit available as a result of the American Recovery and Reinvestment Act of 2009 was recently extended. For first-time home-buyers, those who have a home under contract by April 30, 2010 and closed by June 30, 2010 qualify. A tax credit of up to $6500 is now also available for those who have owned a home for at least 5 consecutive years in the past 8, who purchase a new one. To qualify, these home owners must purchase the home after November 6, 2009 and before May 1, 2010, as long as the closing takes place by June 30, 2010.

Go back