Home Buying Government Tax Credits At A Glance For Your Jonesboro Home Purchase

List Your Home Now to Take Advantage of Expanded & Extended Tax Credit

• First-time home buyers: 10% of the home purchase price, up to a maximum of $8,000. Law defines a 1st time home buyer as a buyer who hasn't owned a home during the past three years.
  
  

• Current Homeowners (Repeat Buyer): 10% of the home purchase price, up to a maximum of $6,500. Law defines repeat buyers as someone who used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
  
  

• Tax credit is available for homes purchased on or after November 7, 2009 and before April 30, 2010. As long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
  
  

• Full amount of tax credit available ($8,000 for 1st time buyers and $6,500 for repeat buyers) for individuals with adjusted gross income of no more than $125,000 ($225,000 on Joint Return).
  
  

• The credits do NOT have to be repaid as long as the home is not sold within three years of your home purchase.

Contact one of our real estate experts of Fred Dacus & Associates to assist you with the purchase or sale of your Jonesboro home!