Tax Credit Deadline

Deadline:

To qualify, first time and repeat buyers must have a binding written contract by April 30 and close by July 1, 2010.

How much:

The maximum allowable credit for first-time home buyers is $8,000.  The maximum for repeat buyers is $6,500.

Who Qualifies:

To qualify as a first-time home buyer, the purchaser OR his or her spouse may not have owned a residence during the three years prior to the purchase.  To qualify as a repeat buyer, current home owners must have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.