Homebuyers in Atlanta and across the country now have a second chance to qualify for the federal tax credit on the purchase of a home – now it includes both new and move- up buyers. The President has just signed the bill extending and expanding the home buyer tax credit into law. Move-up buyers who have been in their current home for more than 5 years can now qualify for a $6,500 tax credit.
From the Associated Press:
“Tax credit: Ten percent of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for repeat buyers. First-time homebuyers are defined as people who have not owned a home in the previous three years. Repeat buyers must have owned their current home at least five years. The credit cannot be used for houses costing more than $800,000.”
The bill extends the deadline for the credit to any homes purchased by May 1, 2010 and must close within 60 days. The extension gives buyers a great reason to purchase a new Monte Hewett Home in Atlanta or move-up to one of our spectacular single-family homes that are priced below builder cost.
To find out more about Monte Hewett Homes and our communities throughout Atlanta, visit www.mhhomes.com