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Tax Credit for Home Buyers Officially Expanded and Extended!

November 6, 2009
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Today the $8,000 First-Time Home Buyer Tax Credit was officially extended six months to April 30, 2010. A new $6,500 Home Buyer Tax Credit was also enacted as a part of the bipartisan bill signed into law by President Obama today.

The $8,000 First-Time Home Buyer Tax Credit was set to expire at the end of this month. The deadline has now been extended. Home buyers have until April 30, 2010 to sign a purchase contract and must close on the home by June 30, 2010.

The new legislation also introduces a $6,500 Home Buyer Tax Credit for current homeowners looking to buy a new home. To qualify, the home buyer must have lived in their current home for at least five consecutive years and the new home must be the buyer’s primary residence. This $6,500 tax credit for “step-up” buyers begins December 1. The same contract and closing deadlines apply to both tax credits.

Income limits for the tax credits are $125,000 for single home buyers and $225,000 for couples (up from the previous income limits for the First-Time Home Buyer credit). Home buyers must attach proof of their new home purchase to their tax return in order to receive the tax credit.

For more information, including eligibility requirements and FAQs, please visit

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This post was written by Sandcastle Homes

"We are so grateful to have found Sandcastle Homes! They’ve made the home-buying process so much easier and more enjoyable than we could have imagined. They are responsive, respectful, and always put the customer first. We truly appreciate the speed and accuracy with which they’ve addressed any concerns we’ve brought up throughout the process and can’t wait to officially own our first home. Sandcastle has a team that clearly values one another as much as they do their customers, and you can feel a sense of community when working with them."

Carol Sandler

"Sandcastle did an amazing job with my house. They came through on everything they promised. Jose Salas, the construction manager, is very helpful even after we closed on the house. He goes above and beyond. Getting to meet the owner, Salomon, during the closing was a great experience as many other builders don’t do this. We love our house and the quality of it!!"

Enrique and Judith

"We just moved into our new home by Sandcastle. Since the beginning of the process the whole Sandcastle team paid great attention to our requests and responded rapidly. We were lucky to get in contract in time for us to choose colors, kitchen design, finishes and other and all our requests were reflected in our new house. At the end of the closing, the team always kept the same great attitude towards us and helped us with any question or request. We would say one of the greatest things about Sandcastle is that they really back up what they sell: best price, best service, best quality in town. We ended up extremely pleased with our new house."

Andres and Marcela

"I just moved into my new Sandcastle home and I think it’s a wonderful place to live. They have been very helpful, particularly Lynette and Steve. From the owner Mike Salomen down, it has been a truly positive experience. I would highly recommend anyone who wants to buy a new home that is built of high quality to consider this home builder."

Neal Massey

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