New Home Buyer Tax Credit Extended. FHA, VA, or Conventional Home Loans Qualify for Credit for Military or Federal Employees
Posted on | July 29, 2010 | No Comments
Great news for some service people that are entering into the housing market to purchase a new home has recently made headlines. The deadline for the Home Buyer’s Tax Credit has been extended one year for members of the military! Previously, a person could qualify for the new home buyers $8,000 dollar tax credit. One needed to be a new home buyer and started the closing process with written agreements before April 30th to take advantage of the 8,000 dollar first time home buyer tax credit. An extension was given by the President for those in agreement needing extra time to close the deal. Now for military service people, if you take out an FHA, VA or conventional home loan and cloase on the house in 2011, you can claim the tax credit on either your 2010 or 2011 income tax form.
This is great new! The deadline for the Home Buyer’s Tax Credit has been extended for members of the military and for federal employees that have been out of the United States serving our country between January 1, 2009 and April 30th, 2010. There is still time to receive the federal money benefit if you a re looking to buy a home, just speak with you real estate agent about eligibility of your local lending agent.
Author: Camillo Zucari