Here is some information on the tax credit from the National Association of Realtors website. Bringing the Dream of Home Ownership Within Reach:
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
* Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. * Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
The Internal Revenue Service has more information on the First-Time Home Buyer Tax Credit as well.
In order to qualify you must have the property under contract by April 30th, and close by July 1st. These deadlines are coming up fast if you haven't started looking yet!
Let us know if you have any questions we can help you with!