$6,500 Tax Credit

Have you heard the latest news related to $6,500 Tax Credit. For all those people who are planning to purchase a new house, this news is very important. According to this news, federal income tax credit now includes all those people who are moving on after staying for 5 years in their current house. Those people who have completed a stay of 5 consecutive years out of past eight years are eligible for getting tax credit up to $6,500.

You should note that there are no extensions for the future. Therefore, if you have qualified for purchasing a new home then you should have the binding contract with you by 3oth of April, 2010. If you access the popular website ColdWellBanker.com, then you can also watch the details of this news delivered by the President and CEO of ColdWellBanker. By watching this video, you will get the whole idea about the changes which are made. The most important thing to notice is that after these changes the income limit for the singles has become $125,000 and for couples it has become $225,000. These changes hold importance for a lot of realtors and people who are planning to buy a new house.