First Time Buyer Tax Credit Extension-- Extended and Expanded!

The $8,000 first-time homebuyer tax credit has been extended until Spring (under contract by April 30th close escrow by June).

Not only has it been extended until the spring it has also been expanded to include buyers who have owned their current residence for at least 5 years looking to purchase a new primary residence for a credit of $6,500.

The income limits have also been raised to $125,000 for individuals and $225,000 for married couples.

The maximum purchase price must be $800,000 or less.