Are you thinking about buying your first home?
Now may be a great time to make your move. For a limited time, qualified first-time homebuyers may receive a tax credit up to $8,000 as part of the extended First-time Homebuyer Tax Credit and Advance Loan Program.
If you plan to live in the home as your primary residence and have not owned a home during the past three years, you may qualify for the tax credit. As long as the home remains your primary residence for at least three years, you will not have to repay this tax credit.
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A bit more about the tax credit
~ Available to first-time homebuyers
~ Credit amount up to $8,000
~ For any home purchase where a sales contract is signed by April 30, 2010 and closes by June 30, 2010
~ Available on single-family detached homes, townhomes, and condominiums — newly constructed or pre-existing
~ The tax credit does not need to be repaid unless the home is sold within the first three years after purchase
