The $8,000 first-time homebuyer credit is close to extension
- Contracts to buy a home must be signed by April 30, 2010, and the deals must close by June 30 in order for a buyer to qualify for the credit.
- The credit would only apply to homes sold for $800,000 or less.
- Homebuyers must have adjusted gross income of less than $125,000 ($225,000 for married couples filing jointly).
- A credit worth up to $8,000 for first-time homebuyers and up to $6,500 for homeowners looking to trade up to a bigger primary residence and who have already lived in their current home for five years.
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