The House of Representatives and the Senate passed a bill to extend the First Time Home Buyer Tax Credit for up to $8,000. The new tax credit starts December 1, 2009 and goes to April 30, 2009. Congress also added $6,500 tax credit for move up buyers. In order to qualify you must have owned your current principal residence for the last 5 years or more.
You must own the home you buy for the next 3 years in order to not have to pay the money back. The income limits have also been increased. Single = $125,000 and Joint = $250,000.
For more information please feel free to call me at 302-703-727 or send an e-mail to DelawareMortgages@yahoo.com
John R. Thomas - Certified Mortgage Planner - Primary Residential Mortgage, Inc.
As a Certified Mortgage Planner, I help people achieve their dreams and goals by assisting them in designing financial strategies that work for each client to accomplish financial freedom.
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