Congress voted today to extend the home buyer tax credit. Here’s how to qualify for the $ 8000 savings:
- Sign a contract to purchase by 4/30/10 and close by June 30
- Buy a home for less than $ 800,000
- You must be a first time buyer — i.e. if you haven’t owned a home for 3 years, you qualify. Also now — as long as you’ve lived in your home for 5 years, you can get a tax credit of $ 6500.
- It must be your principal residence
- Your single income can’t exceed $ 125,000/year, and if you file jointly, the maximum income is $225,000 . It’s a graduated limit starting at $ 75,000/$ 150,000.
Call Anne Rossley at Prudential RUBLOFF today to find a home for sale in Chicago at a great price!
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