Not a first time home buyer?
Posted by The Atlantic Real Estate Team on Wednesday, November 11th, 2009 at 2:36pm.Not a first time home buyer? Not a problem! There is a brand new tax credit especially for you. It is called the Move Up/Repeat home buyer tax credit. This credit has been established by the Worker, Homeownership, and Business Assistance Act. If you have lived in a home for five consecutive years over the past eight, you may qualify for the credit. This credit is for 10% of the home's value up to $6,500. The income limit is $125,000 for single taxpayers and $225,000 for married tax payers. You do not have to purchase a home that is more expensive than the one you previously owned. The deadline to close on a home is June 1, 2010.
Contact the Atlantic Real Estate Team to help you find a great home and take advantage of this credit. Let’s go shopping together!
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