News & Events

HOMEBUYER TAX CREDITS EXTENDED!

Good news for qualified homebuyers nationwide.  Effective now through April 30, 2010 first time and repeat or move-up homebuyers may be eligible to receive a federal tax credit on their new home purchase!

• Homebuyers must have a signed purchase contract in effect by April 30, 2010 and close the transaction on or before June 30, 2010.
• Purchase Price Limit:  $800,000 maximum
• First time Homebuyers:  Tax Credit is 10% of purchase price up to maximum of $8,000. Must not have owned a principal residence in the last three years.
• Repeat/Move-up Homebuyer: Tax Credit is 10% of purchase price up to maximum of $6,500)  Must have used the home sold or being sold as their primary residence consecutively for 5 years of the previous 8 years.
• Income Limits:  $125,000 for single taxpayers; $225,000 for joint taxpayers. 
• No Repayment Required:  The tax credit does not have to be repaid, but homebuyers must maintain the new home as their principal residence for at least three years or face recapture of the tax credit amount.
• Military Personnel: Those deployed overseas for a minimum of 90 days in 2008 or 2009, would have until April 30, 2011 to claim the tax credit. 

For more information contact Vision Group Realty at:  704.847.9300 or 866.913.5807 (toll free).