The Extended and Expanded Homebuyer Tax Credit

• Maximum credit of $8,000 for first-time home buyers. $6,500 for eligible repeat home buyers.
• Full amount of credit available for individuals with adjusted gross income of no more than $125,000, $225,000 on a joint return (Additional $20,000 phase out).
• Limit to homes $800,000 or less.
• Must have signed sold contract by April 30, 2010. You have until July 1, 2010 to close on the property.

Information taken from the Tax Credit Features chart from the Realtor.org website. The chart can be downloaded by clicking here.

Why You Need to Take Advantage of This Credit?

• Available for a limited time, expires April 30, 2010
• No need to repay -- Free Credit
• Allows current home owners to move-up or down in home value
• Great time to sell as more buyers are able to purchase homes