Congress voted today to extend the home buyer tax credit.  Here’s how to qualify for the $ 8000 savings:

First Time Buyer Tax Credit

  • 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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