Monday, July 19, 2010

Homebuying Tax Credit Extended for Veterans

While the $8,000 tax credit for first time homebuyers and the $6,500 tax credit for move-up buyers has gone away since April 30th, these benefits still remain in place for veterans of the US military who have recently served. The new law provides that qualified service members who are ordered on a period of official extended duty shall have until April 30 of 2011 to have a purchase agreement accepted to qualify for either the $8,000 or $6,500 tax credits. These contracts then have to be closed by June 30th of 2011. This gives the men and women returning from duty time to get settled and make a smart purchase as it should be.

For full qualification requirements and additional details, visit here.


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