Shirley's San Antonio Real Estate Blog: New Homebuyer Tax Credit.... What you need to know

New Homebuyer Tax Credit.... What you need to know

Via Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com):

New homebuyer tax credit

 

A new tax credit for homebuyers has been enacted and there are some changes. Income limits have been increased and it is no longer restricted to First Time Homebuyers.

I have included a chart below from the National Association of Realtors. This is the best illustration I have seen so far and will help answer many questions. I have heard positive feedback from those that have called the IRS from the phone numbers found on their website, irs.gov. Hold times are short and you can easily get to a human being!!

The effective date of this new credit is November 6, 2009 as that is the day this was signed into law!!

I hope this is helpful for those with questions.

 

2010 Homebuyers Tax Credit Chart

As you can see, the income limits were increased to include more participants in the program as well as the inclusion of buyers who have previously owned a home.

 

Tom Burris
DallasLoanGuy.com
Dallas, TX

http://www.dallasloanguy.com/
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I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

 

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5 comments • Shirley Parks, REALTOR® - SRES • November 21 2009 12:36PM

Comments

Thanks for th re-blog Shirley

Posted by Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) 8 months ago

I am glad to re-posted this, Shirley.  I like that chart.  Very easy to comprehend!

Posted by Sharon Walter Lafayette/West Lafayette INDIANA (Keller Williams) 8 months ago

Hopefully this will keep thngs going, one house at a time adds up after awhile. Just need to get the jobs going again.

Posted by Carl & Ceil Winters New Braunfels/Canyon Lake TX (Complete Inspection Service) 8 months ago

Shirley

I know it will have some effect on stimulating sales...but stilll worry about the long term effects of the credit.

Posted by Trey Thurmond, College Station , Texas Homes (Brazosland Classic Realty) 8 months ago

Howdy there Shirley

I do feel even with the Tax credit, the Real Estate industey, is still going to have a long rode ahead of it.

I hope you and your family have a fine, and Happy Thanksgiving, my friend

Baker Home Commercial Properties Inspections and Consulting AR Signature

Posted by Baker Home Energy Audit and Commercial Properties Inspections-Dale Baker (Baker Home Energy Audit & Commercial Properties Inspections ) 8 months ago

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