First Time Home Buyer Tax

Credit Extension

Complete First Time Home Buyer Tax Credit Extension Information.

If you are a first time home buyer who was hoping to take advantage of the $8,000 tax credit for first time buyers, the bad news is that the program has officially expired. But all is not lost! In some instances, you may qualify for a first time home buyer tax credit extension. There is a specific set of qualifications that may apply directly to your situation.

First Time Home Buyer Tax Credit Extension

Unfortunately, for regular citizens to qualify for the first time home buyer tax credit, you must have completed the purchase by April 30, 2010, as required by the Worker, Homeownership, and Business Assistance Act of 2009 (which was the law that was passed that extended the first time home buyer credit into 2010).

However, members of the service, which includes members of the military, the foreign service, and the intelligence community, who were on official extended duty outside the United States for at least 90 days between January 1, 2009 and May 1, 2010 may qualify for a one-year extension.

If you are a first time buyer and regret missing the tax credit, and the first time home buyer tax credit extension doesn't apply to your situation, you need to know that even though the Federal first time home buyer tax credit has expired, there are still multiple state and local programs and grants available to help you with the funding needed to buy your first tome. You should also visit the First Time Home Buyer Grants page for information on down payment assistance that can help you qualify for a first time home buyer loan.