Current Homeowners 

•    The tax credit has also expanded to current homeowners.
•    Current howeowners that meed the qualifications are eligible for up to $6500

  Limitations

•   First time homebuyers may not have had an interest in a principle residence for 3 years prior to purchase.
•   Current homeowners must have used home as a principal residence consecutively for 5 of the previous years.
•    The tax credit applies only to homes under contract by  April 30, 2010 and closed by July 1, 2010.
•     Income  limits apply: $125,000 (single) and $225,000 (married) there is an additional $20,000 phase out. 
•     There is an $800,000 limit on the cost of the purchased home.
•      Purchases by a dependant are ineligible.
•      Purchasers must provide documentation of the purchase with their tax return.
•      If the property is sold within 3 years from the date of purchase, the buyer must pay back th full amount.
                      

Naomi McKeever Designated Broker	The Warrens Associate Brokers	Jim Book Associate Broker	Denise Lerette REALTOR®	Bob Eddingfield REALTOR®	Nancy Crosby REALTOR®	Pat Bonomo REALTOR® Prop Mngmnt

Come  in, lets sit down and talk about the $8000. first time homebuyer tax credit, the  $6500 credit & the great interest rates!

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