On Nov. 6, 2009, President Barack Obama signed the Workers, Homeownership and Business Assistance Act, which extended the tax credit to those who purchase a home or have one under contract to April 30, 2010. The law went into effect immediately.
The $8,000 tax credit is still for first-time homebuyers or for those who have not owned a home in three or more years. The new law expands the program to include homeowners who have owned a home for five or more years, and qualifies them for up to $6,500 in tax rebates.
If you are planning on buying a home by April 30, 2010, you can use this chart to determine if you qualify for a homebuyer tax credit.
Learn more about the First-Time Homebuyer Tax Credit
To learn more on how you may be able to take advantage of the Homebuyer Tax Credit, as well as learn more about the loan programs Tech CU offers, speak with a Tech CU Mortgage Consultant at (800) 553-0880 or stop by one of our conveniently located Financial Centers.
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