Gary's Blog

Friday, November 6, 2009

Senate OKs Homebuyer Credit Extension

The Senate ok'd the extension to June of 2010 the $8000 tax credit for first-time homebuyers. Also, they expanded to include a $6500 credit for people who have lived in their current residences for at least five years, as long as a buyer enters into a binding contract before April 30. It doubles the income ceiling for qalification to $125,000 for individuals. The credit is available for homes purchased at under $800,000.

That will help many buyers here on Maui!

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