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 the 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 you can APPLY ONLINE HERE.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713