Can You Take Advantage of the New Extended Tax Credit in Myrtle Beach ?

Even more people are now eligible, and can take advantage of the new tax credit law.

This new Credit includes a $6,500 tax credit for buyers who are current home owners, and have lived in their home for five of the past eight years.

This is not just a first time home buyer tax incentive any longer.

The income limits for eligible home buyers were also expanded to $125,000 for single buyers, and $225,000 for couples. Those limits were previously only up to $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000.

This will bring another level of buyers to the table that are able to take advantage of

Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 first time home buyer tax credit to April 30, 2010.

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