Mortgage Monday: Tax Credit for Homebuyers

Qualified service personnel get homebuyer tax credit extended

For certain membersĀ of the military, the Foreign Service and the intelligence community, the homebuyer tax credit has been extended to April 30, 2011 for a signed contract and to June 30, 2011 for the closing. The credit can be worth up to $8,000 for first-time buyers and up to $6,500 for existing owners. Service personnel need to have been on official extended duty and meet specific provisions. If you know someone who may qualify, please have them contact Mary Woodbury at Mary.Woodbury@sterlingsavings.com to see if they meet requirements. Service personnel who close on a home this year can take that tax credit immediately 0n their 2010 return!

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