Team Kawohl

Woodbury

604 Bielenberg Drive, Suite 100

Woodbury, MN55125

›› Wyndham Ponds › Wyndham Ponds Listings › Blog › Senate expands homebuyer tax credit

kawohlteam@results.net
Direct: 651-770-5646
Office: 651-735-1350
Main: 651-735-1350
Fax: 651-578-2212
Signed in as . Sign Out

Senate expands homebuyer tax credit

Senate expands homebuyer tax credit

WASHINGTON  — Buying a home is about to get cheaper for a whole new crop of homebuyers — $6,500 cheaper.

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package. But with that program scheduled to expire at the end of November, the Senate voted 98-0 Wednesday to extend and expand the tax credit to include buyers who already own homes. The House is expected to vote on the bill Thursday.

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn't owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.



AP


Posted by Team Kawohl on 11/05/2009
Pin It