- Closing costs;
- The purchase of new Whirlpool® appliances by Fannie Mae; or
- A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.
- Offers must be accepted on or after January 28, 2010
- Property sales must close before May 1, 2010
- Buyers must be owner-occupants, investors are excluded
*Lenders may impose their own limitations on the use of the 3.5% incentive, so buyers should consult their lenders for guidance.
Buying a home? Take Advantage of a Federal Income Tax Credit
New legislation was approved which extends the First-Time Homebuyer Credit for homeowners through April 30, 2010 with a 60-day cushion beyond that date to complete closing. The program broadens benefits to existing homeowners and now includes:- $8,000 tax credit for first-time homebuyers
- $6,500 tax credit for existing homebuyers who have lived in their current residence for at least five years but want to relocate to a new primary residence
- Increased income limits for individuals and couples
*article courtesy of: http://www.fanniemae.com/homepath/incentive/index.jhtml
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