The homebuyers tax credit is going to expire in two more days unless a contract is signed and closed before the end of June. The tax credit jumped sales of new homes by 27% and existing homes by 6.0% in March. This morning the weekly MBA mortgage applications data confirmed that it is the tax [...]

Home Buyer Tax Credit Expires 04/31/2010 $8,000 First-time Home Buyer • The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. • The tax credit does [...]