January 26th, 2010

Homebuyer Credit Expanded and Extended

New Homebuyer Credit

If you’re thinking of buying a new home, you’ll want to take advantage of SMCU’s great low rates and a first-time homebuyer credit worth up to $8,000. A new tax law extends and expands tax credits to first time-homebuyers.

Under the new law, if you have a contract to purchase by April 30, 2010, and close by June 30, 2010, you will have the option of claiming the tax credit on either your 2009 or 2010 return. Long-time homeowners buying a replacement principal residence may receive a credit of up to $6,500.

Complete information about the tax credit can be found at www.irs.gov. If you have questions about how this tax credit applies to you, talk to one of our knowledgeable Home Loan Experts at 206-398-5888 (800-334-2489 ext. 888), or send an email to relending@smcu.com. Our knowledgeable experts will be your trusted advocate and advisors, walking you through every step of the home-buying process.

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