Repeat Buyer Tax Credit

The  $6,500  Move-Up / Repeat Home Buyer Tax Credit  

at a Glance…

·         To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for at least five consecutive years out of the last eight years.

·         The tax credit does not have to be repaid.

·         The tax credit is equal to 10% of the home's purchase price up to a maximum of $6,500.

·         The tax credit applies only to homes priced at $800,000 or less.

·         The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010.  However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.