| Last Updated 01/09/2010 |
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(New) Effective 11/06/2009 ! |
♦ Effective Purchase Dates: December 1, 2009 - April 30, 2010 Binding Contract by April 30, 2010 & close by July 1, 2010 ♦ Tax Credit Amount: 10% of the purchase price up to $8,000 Maximum purchase price allowed - $800,000 ♦ Eligibility: May not have had an interest in a Principal Residence for 3 years prior to purchase ♦ Income Limits: Single $125,000 - phased out at $145,000 Married $225,000 - phased out at $245,000 ♦ Repayment: None, providing you occupy the home for three years or more. Otherwise, the full amount of credit will be recouped at the time of sale.
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♦ Effective Purchase Dates: November 7, 2009 - April 30, 2010 Binding Contract by April 30, 2010 & close by July 1, 2010 ♦ Tax Credit Amount: 10% of the purchase price up to $6,500 Maximum purchase price allowed - $800,000 ♦ Eligibility: Does not need to cost more than your existing home Must have lived in your home for at least five consecutive years out of the last eight No requirement to sell your current Principal Residence but new home must become Principal Residence ♦ Income Limits: Single $125,000 - phased out at $145,000 Married $225,000 - phased out at $245,000 ♦ Repayment: None, providing you occupy the home for three years or more. Otherwise, the full amount of credit will be recouped at the time of sale.
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