Buying first home is easier than buying quality meat
Quality meat is important but without a home it’s hard to cook. Buying a home is hard. People have a hard time getting homes especially in today’s market and economy. buying first home, for new home buyers, is usually the hardest compared to buying a new home, for previous home owners. Times are changing thanks to the Federal Goverment. Instead of 6500 dollars of credit (3250 when filing separate), first time home buyers that are married get 8000 dollars or 4000 dollars of credit when filed separately. Current home owners must have used the home, sold or being sold, as the principle residence consecutively 5 of the 8 previous years. First time home buyers on the other hand need to only have not had a primary residence for the past 3 years. Both first time buyers and previous home owners have a binding contract in place prior to April 30, 2010. This rule is hard and fast and the home buyer tax credit will not be extended. If the contract is a binding contract to purchase and is in effect on April 30, 2010 the home buyer will have until June 30, 2010 to close. Restrictions are a yearly income of 125,000 dollars for singles and 225,000 dollars for couples. 800,000 dollars is the limitation cost for home purchased. If you are a dependent you instantly ineligible for the services Coldwell Banker provide. Tax returns must be present.