First Time Home Buyer Tax Credit Extended with More

On November 9th, 2009, President Barack Obama signed on approving the First Time Home Buyer Tax Credit of up to $8,000 until April 30th, 2010. Anyone who has not owned a house within 3 years of the purchase is eligible. Existing homeowners that have lived in their home for the past 5 consecutive years and are purchasing another home for their principal residence may also be eligible for a $6,500 Credit. Homes purchased after November 6th, 2009 and before April 30th, 2010 will be eligible as long as closings occur before July 1st, 2010. Buyers must be 18 years of age in order to collect. With Mortgage rates at a historical low, combined with the supply of homes for sale, there has never been a better time to be a Buyer. The tax credit is just icing on the cake. If you are going to buy a house in the next year, Don't miss out on this opportunity!!