...whether you are a first-timer or wish to buy "up". The tax credit that was extended in November has a deadline of April 30th. Interest rates are still historically low but might not be for long. Many economists are predicting that rates will climb in 2010.
Here are some basics to know about the new tax credit.
First-time buyers who have not had interest in a principal residence for 3 years are still eligible.
Maximum amount remains $8,000
Current homeowners who have maintained the home they want to sell for 5 of the last 8 years are eligible for a credit of up to $6,500.
Buyers must sign a purchase agreement by April 30th & close before July 1, 2010.