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Federal Income Tax Credit of up to $8,000 Available for First Time Homebuyers ($6,500 for current homeowners)

Did you know that Congress recently passed legislation allowing a tax credit of up to $8,000 for first time buyers and up to $6,500 for current homeowners for purchasing your primary residence? 

First Time Buyers: To qualify as a first time buyer, you must not have owned a principal residence during the three year period prior to the purchase. You must sign a binding contract to purchase by April 30, 2010 and close by July 1, 2010 to receive the tax credit. The amount of the tax credit is 10% of the purchase price up to $8,000. Here at Woodbridge Estates, EVERYTHING  WILL  QUALIFY  FOR  THE  FULL $8,000 FEDERAL TAX CREDIT!

Current Home Owners: To qualify for the $6,500 tax credit, you must have used your home sold or being sold as a principal residence consecutively for 5 of the last 8 years.

Generally, the tax credit is available to purchasers with Modified Adjusted Gross Income of up to $125,000 for individual taxpayers and $225,000 for a married couple filing a joint tax return. 

For more information, please click on the link below – then call our sales office at (313) 833-6360 to make an appointment to visit our furnished models.  The sales office is open every Saturday from 11:00 am to 4:00 pm or other times by appointment.

www.federalhousingtaxcredit.com