$8000/$6500 Tax Credits Still Available for Active Military

Men/Women in active military have a one year extension of the $8000 first time buyer tax credit and the $6500 tax credit for repeat buyers.

If you were on active duty for 90 days or more, outside of the U.S., during the time period of 12/31/08 to 5/1/2010, then they you are eligible for this 1-Year Extension. This means that you have until April 30, 2011 to enter into a purchase contract on a new home. The home must close by June 30, 2011.

We have excellent lenders that allow credit scores as low a 600 for VA loans. VA loans are unique because the require no down payment and no monthly mortgage insurance.

You are considered a first time home buyer if you haven’t owned a home for 3 years, even if you have owned a home in the past. You are eligible for the $6500 repeat buyer tax credit if you have lived in your current home 5 years or longer. Let us know if you have questions, we can help you to see if you qualify.

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