The home buyer tax credit now has been extended with a closing deadline of September 30, 2010. Both the first-time home buyer credit of up to $8,000 and the "move-up buyer" credit of up to $6,500 have been extended.
Who is eligible for this deadline extension? If you are a first-time or "move-up" buyer who had a ratified contract in place as of April 30, 2010, but were unable to close by the previous June 30th deadline. To be considered a first-time homebuyer, you cannot have owned your own home in the last three years. The same income restrictions and rules apply for the extension as the initial tax credit guidelines.
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