For aspiring home owners who find their goal difficult, newly enacted legislation providing a tax credit of as much as $7,500 for first-time home buyers might just be the opportunity of a lifetime.

But like so many of the good things in life, time is of the essence for buyers who want to take advantage of this outstanding opportunity. Only homes purchased on or after April 9, 2008 and before July 1, 2009 are eligible.

Here are the basics of the first time home buyer tax credit plan.

The tax credit is available for first-time home buyers only.
The maximum credit amount is $7,500.
The credit is available for homes purchased on or after April 9, 2008 and before July 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
The tax credit works like an interest-free loan and must be repaid over a 15-year period.

Looking to buy that first home? The time could not be better with great pricing, loan programs and selection. Call us today for more information at 612-282-7653.

Derrick