FEDERAL HOMEBUYER TAX CREDIT SUMMARY
Credit Expanded Under Worker, Homeownership And Business
Assistance Act Of 2009, Signed Into Law on November 6, 2009*
The Federal Homebuyer Tax Credit is available to buyers who have not owned a principal residence in the last three years (“New Buyers”) and to buyers who have owned and lived in their principal residence for 5 consecutive years out of the last 8 years (“Repeat Buyers”).
The maximum credit amount is $8,000 for New Buyers and $6,500 for Repeat Buyers.
The tax credit is available for homes closed after November 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the credit provided the closing occurs prior to July 1, 2010.
Homes with a purchase price of up to $800,000 qualify. The home must be used as a principal residence.
Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
The tax credit does not have to be repaid, unless the owner sells or stops using the home as their principal residence within three years after the purchase.
You have a limited time to take advantage of the Tax Credit. A D·R·Horton team member can assist you with your home buyer experience. Please do not hesitate to
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Rent vs. Own: More Reasons to Buy Now!
Buy
Rent
Build Your Equity
Homeowner Tax Benefits
Pride of Ownership
Your Piece of the American Dream
Sense of Stability & Community
Freedom to Express Your Style
Build Your Landlord's Equity
No Control Over Rent Increases
No Tax Deductions for Rent
No Privacy
No Ability to Personalize Home
Why Buy New
Build Your Own Dream
Customization
New Appliances
Energy Efficiency
Builder and Manufacturer Warranties
You know what you get & You get what you want
* The information on this website is provided for general guidance only. D.R. Horton is not making any representations, guarantees or warranties to you with respect to (i) tax benefits, investment potential or other possible benefits of home ownership, (ii) potential appreciation or depreciation in the price of a home, or (iii) the value or equity which you may receive from home ownership. Please consult with an accountant, attorney or other professional advisor for your particular situation.
