{"id":518814,"date":"2010-04-06T17:02:17","date_gmt":"2010-04-06T21:02:17","guid":{"rendered":"http:\/\/www.zillow.com\/blog\/?p=19145"},"modified":"2010-04-06T17:02:17","modified_gmt":"2010-04-06T21:02:17","slug":"homebuyer-tax-credit-find-your-new-home-by-april-30-2010","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/518814","title":{"rendered":"Homebuyer Tax Credit, Find Your New Home by April 30, 2010"},"content":{"rendered":"

The tax credit for homebuyers will be coming to an end shortly. Here is what you need to know to get in on it:<\/p>\n

Deadline:<\/strong><\/p>\n

A binding contract must be complete by April 30, 2010 and escrow must be closed by June 30, 2010. In layman’s terms, you need to have an agreed-upon purchase price in writing by April 30 and you’ll have an additional two months to go through the process of actually making the purchase official.<\/p>\n

Qualifications:<\/strong><\/p>\n

First-time home buyer tax credit:<\/span> The first-time homebuyer tax credit of 10 percent of the purchase price up to a maximum of $8,000 is available to those who have not owned a home in the past three years.<\/p>\n

Existing home buyer tax credit:<\/span> The existing homebuyer tax credit of $6,500 is available to homeowners who have owned and occupied their home for five out of the past eight years.<\/p>\n

There are income limits for both of the tax credits so make sure to check out the IRS Web site<\/a> for more information and to find out how to file for the tax credit.<\/p>\n

For more information on the tax credit, check out the following blog posts:<\/p>\n