Good news for Connecticut homebuyers, both first time purchasers and “move-up” buyers as well. As LoanClassroom has continuously kept you abreast of legislation for the extension of the homebuyer tax credit with no surprise it is official. It is signed sealed and delivered.

The new tax credit is in effect until April 30, 2010. You must be in contract by that date and will then have sixty days from that date to close. Also as anticipated the income levels to qualify have been increased as well.

I am always getting questions from clients in regards to the tax credit. While I do my part to stay informed there are some questions that I am not always sure of. I found the best question and answer site for the tax credit. It was so well done I found it un-necessary to create my own. It is on the NAHB (National Association of Home Builders) website.

If you are a first time homebuyer click on the link to TAX CREDIT QUESTIONS FOR FIRST TIME HOMEBUYERS

If you are a “step-up” buyer, meaning you are selling and buying a new home click on the link to TAX CREDIT QUESTIONS FOR REPEAT BUYERS

And if you need to get pre-qualified for a mortgage or are in the need of financing fill out the form on the site and we will be sure to get in touch with you.