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Updated: 6:40 PM Nov 9, 2009
First-time home buyers’ tax credit program extended
SHERMAN, TX -- The federal government is expanding a program designed to help first-time home buyers. The program that gives first-time home buyers an $8,000 tax credit has been extended until April of next year. Posted: 6:22 PM Nov 9, 2009Reporter: KXII-TV Staff Email Address: firstnews@kxii.com  Click to play video |
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SHERMAN, TX -- The federal government is expanding a program designed to help first-time home buyers.
The program that gives first-time home buyers an $8,000 tax credit has been extended until April of next year. The program was originally scheduled to end at the end of this month.
As well as allowing more time for people to take advantage of the tax rebate, the government is now allowing people who already have a home but are looking to buy a new one tax credit as well.
"They have to have been in their home for at least 5 years, they too can get a 6500 dollar tax credit," Clint Huhnke at Virginia Cook Realtors says.
To take part in the program, the home cannot be valued over $800,000, and participants must make less than $125,000 a year.
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