Military $8,000 First Time Home Buyer Credit and MILITARY CASH BACK Home Buyer Program

The $8,000 Tax Credit has been extended for One (1) year for one group of First Time Home Buyers - see below.

House Passes Legislation Extending FTHB Tax Credit for Veterans
Oct 15th, 2009

The House of Representatives voted unanimously Monday to extend the deadline for the home buyers’ tax credit for one group of Americans.
HR 3590 will allow eligible military personnel, foreign service and intelligence officers to apply for the $8,000 tax credit for one year beyond its current November 30 deadline. Those meeting the underlying requirements for the credit must also be serving overseas or have spent at least 90 days deployed outside of the country during the current calendar year. It is expected that about 350,000 military personnel and an unknown number of federal employees may be affected by the new law. The bill, introduced by Representative Charles Rangel (D-NY) because it was thought that families serving overseas were being passed over for this one-time opportunity to purchase a home

There is currently a battle being waged over extending the popular credit for all eligible persons and possibly even removing the requirement that the home be a qualified first-time purchase. Many credit the current tax break for a recent surge in the housing market after months of rising inventories and falling prices. Such an extension is strongly supported by the National Association of Realtors, the National Association of Homebuilders, and other major players in the housing industry, however, many argue against it on the basis of cost.

In addition, Coldwell Banker United, Realtors(r) has a program for Military personnel to get CASH BACK when buying or selling a home. Contact us to sign up for this program-it's a great deal!

We focus on the greater Austin and Highland Lakes Areas including Travis, Burnet, Llano, Hays, Blanco, and Williamson Counties. If you live somewhere else, we can refer you to a Real Estate Agent certified to work with Military Personnel and you can still get the Cash Back Program.

Sue Ellett, Broker-Associate
866-693-7741