Posted By Alan Donald @ Nov 6th 2009 4:10pm In: Buyers

President Obama signed today into law the extension of the $8,000 Tax Credit for first-time homebuyers. To qualify, buyers must contract the sale by April 30th, and close by June 30th, 2010.

In addition, the law expanded the credit to provide a $6,500 Tax Credit for buyers who have owned a primary home for over five years and who want to buy a new home.

This official document shows the differences between the existing and the new Tax Credit laws.

NAR 2010 Tax Credit Comparison


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