Tax credit extended & expanded for first time home buyers!

11-6-09 - It's great news for Indianapolis and Hamilton County homebuyers and sellers! The Senate voted 98-0 and the House voted 403-12 this week to approve legislation that includes the extension and expansion of the $8,000 tax credit for first time homebuyers. President Obama is expected to sign the bill quickly.

Provisions of the bill include an extension through April 30, 2010 of the current first time buyers tax credit of $8000 as well as the addition of a $6500 credit for married homeowners filing jointly who have used the home they have sold or are selling as their primary residence for the past 5 out 8 years consecutively. An increase in the income limit from $75,000 to $125,000 for singles and $150,000 to $225,000 for married couples filing jointly also was approved.

To find out if you are eligible for this credit, contact your Indianapolis real estate expert:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317.840.7555
Pat@HaddadTeam.com