6 Responses to “More on the Homebuyer Tax Credit” »»

1. Nemo
   Comment by Nemo | 11/05/09 at 5:48 am

   I have an offer out on a place right now and a projected closing in Dec. I didn’t qualify for the old credit due to income limits, but would qualify for the new one. Does the timing on this work, or would I need to have the offer in after Dec 1?

   Nemo

2. John Ford
   Comment by John Ford | 11/05/09 at 6:36 am

   The final bill hasn’t been approved yet, so I’m not sure. Perhaps later today I’ll have an answer for you.

3. condobuyer
   Comment by condobuyer | 11/05/09 at 7:48 am

   Has there been any change in the income limits?? I thought they just expanded to include homeowners who were looking to purchase…

4. John Ford
   Comment by John Ford | 11/05/09 at 7:53 am

   Condobuyer, the last I heard there will be income limits. I’ll keep you posted once I obtain more info.

5. Mike
   Comment by Mike | 11/05/09 at 9:05 am

   There will be income limits. Count on it.

6. condobuyer
   Comment by condobuyer | 11/05/09 at 10:13 am

   I know there will be income limits but was curious if they were going to change the original limits. I just checked and they are increasing the limits to 125K for an individual or 225K for married. The credit will also only be available for purchases 800K and below.

   Frankly, I think some of these limits should be different based on where you buy. In a Texan suburb you’ll get a mansion for 700K and in Manhattan you’ll be lucky with 900 sqft…

   Anyway, this is how it will be if it passes…

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