Deadline Approaching For First Time Home Buyer Tax Credit

Well, once again we are approaching the deadline where First Time Home Buyers and Move-Up Buyers can apply for a tax credit when they purchase a new home.

Buyers must have an approved contract by 4/30/2010 and must have closed on the new home by 6/30/2010.

The tax credit amount is 10% of the purchase price up to $8,000 for First Time Home Buyers and $6,500 for Move-Up Buyers.  Move-up buyers must have lived in there current home for five years out of the last eight years.

If you do not know if you can qualify for a mortgage on a new home and need to find out visit Tri-Merge  Credit Score Report for more information and help.

This is a wonderful opportunity that probably won’t come back for a long time; if ever.  If you really want a new home, then this is a great time to buy.  Not only is the tax credit available to many, home prices and interest rates are still very low. 

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Get off the stick, time is running out for you on all fronts.  Not only is the tax credit expiring, interest rates are beginning to inch slowly upward.