The first time home buyer tax credit extension has helped many future and current homeowners save $8000 or $6500 by April. If you are a first time home buyer and you are under contract by April 30th, 2010 you will benefit from the first time home buyer tax credit.


First time buyers will receive a tax credit of $8000 in the form of a check. If you have been considering buying a new home now is one of the best times ever. Home prices are extremely low, mortgage rates are at the lowest levels they have ever been and tax credits are available.

If you have lived in your current residence for more than five years and you have been thinking about moving up you could receive a tax credit for $6500. Once again, you will need to be under contract by April 30th, 2010 to save money through the first time home buyer tax credit.

There are only a few months left to save from this tax credit so you want to take action soon. Many mortgage lenders will be more than willing to help you with this process so make sure to seek them out sooner rather than later.

Author: Alan Lake