The First Time Home Buyers Tax Credit is NOT over!!
The First time home buyer tax credit did not end for Armed Forces who have been recently deployed!
Members of the Armed Forces who have been deployed more than 90 days since 2008 may be eligible for the tax credit through April 30th 2011. The original bill that extended the tax credit through April 30th 2010 also included a military provision for armed forces personnel who have been deployed allowing them an extra year to purchase a home and claim their tax credit.
This is great news for those who wish to buy homes at Fort Benning! Military personnel may be able to finance 100% of their home using the VA home loan program and still receive $8000 to go in their pocket or pay off other bills or even to purchase furniture for their new home. The military extension also includes the move up tax credit of $6500 for those selling a home and moving up.
The tax credit combined with the current low interest rates, great home prices, and other incentives should make buying a home right now a great decision. As always we advise you to talk with a tax professional and other professional sources to verify if these provisions will apply in your case. One of the best articles I have found explaining the First Time Home Buyer tax credit extension is located here. Our team is available to provide more information to you and help you find a home!
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