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Federal Homebuyer Tax Credit is Expiring – Last Minute Facts You Need to Know

As the clock winds down and the deadline for the $8,000 and $6,500 federal homebuyer tax credits quickly approaches, I’ve recorded this quick (about 6 minutes) and informative video to help you get all the facts.

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7 Responses to Federal Homebuyer Tax Credit is Expiring – Last Minute Facts You Need to Know

  1. Kimberlee Turner March 11, 2011 at 4:14 pm #

    No one gives us the same answer twice on this. My husband Robert is a Veteran. He served in Desert Storm. We are looking to buy a home this month, March 2012. Is there a tax credit still out there for us?

    Thank you sincerely.

    Kimberlee

    • Legacy Content March 11, 2011 at 5:39 pm #

      Hi Kimberlee,
      The IRS rule says that Robert must have served active duty overseas for 6 months between December 31st, 2008 and May 1st, 2010.

      There is a lot more information about that in the comments for this post here – http://broadviewhome loanorange.com/tax-credit/time-home-buyer-tax-credit-2012-veterans/

      Hope that helps? If you have any other questions feel free to email me or call me on my cell at (714) 464-2945

  2. Larry Brown January 11, 2011 at 11:34 am #

    How do I track the payment of the Tax Credit? My Mother-in-law bought a home in time for the package and the application was submitted, but to date she has not received any money nor an explanation as to why not.

    • Legacy Content January 11, 2011 at 11:45 am #

      Hi Larry, last I heard it was taking up to 12 weeks for the check – it sounds like you’re well past that. I would recommend just calling the IRS. It’s a bit of a wait sometimes but I always find them to be helpful once you get through.

  3. john February 28, 2010 at 10:38 am #

    thanks, this is well-presented, and very helpful.

  4. Jason February 23, 2010 at 11:01 am #

    Hey [Broadview],
    Don’t know if you know this but, the $8,000 tax credit can be filed with 2009 taxes. Don’t remember if there are certain dates involved. The buyer doesn’t have to wait until 2012 to see that money.

    • Legacy Content February 23, 2010 at 8:53 pm #

      Hi Jason,
      Yes, that’s absolutely true. You can file an amended previous years’ tax return to claim the homebuyer tax credit. Feedback I’ve heard from other home buyers is that it only takes a matter of weeks to get the credit check – of course, I would give it a couple of months for processing.

      Thanks for your input!