First Time Home Buyer Tax Credit is Still Available... For Veterans

Source:  Michael McDermott, Mortgage Planner

PrimeLending, a PlainsCapital Company

While the Homebuyer Tax Credit has officially come to an end for most, there is an exception that most are unaware of.  For some veterans, the $8,000 tax credit is still very much alive.  Members that have been deployed for at least 90 days between January 1st of 2009 and May 1st of 2010 have been granted an extension until April 30th of 2011 to sign a purchase contract.  The tax credit is identical to the one we are all familiar with.  The tax credit is equal to 10% of the purchase price with a max credit of $8,000 and the buyer must close by June 30th of 2011.