Congress Extends Home Buyer Tax Credit

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!