Home Buyer Tax Credit – Help for Monterey Buyers

Did you know that the $8,000 First Time Home Buyers Tax Credit was extended? You qualify as a first time home buyer if you have not owned a home for the last three years. So if you are looking to buy a Monterey home, this can be a big help. You need to sign a purchase contracatby April 30, 2010 and close by June 30, 2010. 

Did you also know that now you may be eligible for a$6500 tax credit when you buy a home – even if you don’t qualify as a first time home buyer. You need to have owned your existing home for at least 5 yrs. before you purchase a new home.

If you are a member of the military serving outside of the US for a minimum of ninty days, the the credit deadline can be extended for an additional yr. – up until 6/30/2011.

This may be the last of the extensions of the home buyer credit. And there are some great opportunities to buy a Monterey home, or a home on the Monterey Peninsula.