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Military Homebuyer Tax Credit

Posted on January 5, 2011 by tim in Buying, First Time Home Buyer, Grant Money, Home Buyer Programs, Tax Credit

Although the Homebuyer Tax Credit expired for most customers this past summer, it is still available for members of the military who have served outside the U.S. for at least 90 days between January 1, 2009 and May 1, 2010. Details are as follows:

First-time homebuyers (or have not owned a home in 3 years) – may receive a tax credit of up to $8,000

Repeat buyers –  may be eligible for a tax credit of up to $6,500 provided they have lived in their current home consecutively for a least five of the previous 8 years

Annual income limits –  $125,000 for individuals and $225,000 for couples filing jointly; individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 may qualify for partial credit

Eligible properties –  homes used as a principal residence, including condos, co-ops and townhomes

Customers must sign a purchase agreement by April 30th, 2011 and close by June 30, 2011.

We can help you take advantage of products and programs that are available now to make buying a home more affordable. Call or email us today, Team Annett: 513-527-3060 or teamannett@gmail.com .


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