Now's the time to make a move. Homebuyer tax credit ends April 30!

FIRST-TIME HOMEBUYERS who have not had interest in a principal residence for three years are still eligible, and the maximum amount remains the same – $8,000 (or $4,000 for married couples filing separately).

CURRENT HOMEOWNERS may be eligible to claim the homebuyer credit if they meet certain criteria and can show they owned their primary residence for a consecutive five-year period during the eight years ending on the date the new home is purchased. The long-time homeowner tax credit is up to $6,500 (or $3,250 for married couples filing separately)

Don’t wait until it’s too late to take advantage of these tax credits! Learn more at www.YourIllinoisHome.com.

2010-03-11T12:18:03+00:00March 11th, 2010|Uncategorized|4 Comments

About the Author:

Jon Broadbooks is vice president for communications at Illinois REALTORS®.

4 Comments

  1. […] to make their move given the combination of low mortgage interest rates, affordable prices and the federal tax credit for first-time buyers and long-time homeowners, which ends April […]

  2. […] to make their move given the combination of low mortgage interest rates, affordable prices and the federal tax credit for first-time buyers and long-time homeowners, which ends April […]

  3. […] a move if they want to take advantage of the $8,000 first-time buyer or $6,500 long-time homeowner tax credit (both expire April 30) and low mortgage interest rates. The clock is […]

  4. […] a move if they want to take advantage of the $8,000 first-time buyer or $6,500 long-time homeowner tax credit (both expire April 30) and low mortgage interest rates. The clock is […]