2009 Stimulus Tax Credit Extended and Updated!

Hurry!  In order to taken advantage of this opportunity you must act soon.  If you purchase by March 15, 2010 we can build any home you choose on any of the lots we have available.  After March 15, 2010 you can purchase one of our beautiful Quick Move-In homes up until April 30, 2010.

$8,000 for Qualified First Time Home Buyers

$6,500 for Qualified Repeat Home Buyers

Buying a new True Homes home has just been made more affordable than ever for many buyers when the Worker, Homeownership, and Business Assistance Act of 2009 tax credit was extended to April 30, 2010 for up to $8,000 for qualified first-time home buyers and a tax credit of up to $6,500 for qualified repeat home buyers allowing move-up buyers to benefit from the stimulus package.

^*$8000 Tax Credit for First Time Home Buyers

• The tax credit is for first-time home buyers only.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
• For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

^**$6500 Tax Credit for Repeat Buyers

• To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
• The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit. 

Click here for the National Association of Home Builders information page.