2022 Boise Idaho Real Estate Blog

Homebuyer Federal Tax Credit Extension Is Coming

Main Boise Home Loans

Watch for an extension of the tax credit for purchasing a home VERY SOON...read on for some details on the new legislation.

On Wednesday, November 4th, the Senate (on a 98-0 vote) approved an extension to the tax credit program for purchasing a home.

The new version of the tax credit program in this legislation would extend the $8,000 tax credit for first-time homebuyers to April 30, 2010. The bill also will provide a new $6,500 tax break for existing homeowners who want to move up to a new home, as long as they have lived in their current residence for five consecutive years out of the last eight.

The bill now goes to the House for quick passage. Then, the bill will go to President Obama for a television extravaganza signing event.

 
Posted by Eric Leigh at 11/5/2009 4:09:00 PM

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