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Attention First-Time Home Buyers!

UPDATE: First-Time Home Buyers credit extended
and Long-Time Homeowners now eligible for credit

New $6,500 tax credit available, click for more information.On November 6th, President Barrack Obama signed legislation extending the $8000 first-time homebuyer tax credit that was set to expire on November 30th, 2009. Additionally, the bill also creates a new $6,500 tax credit for current homeowners who purchase a new home between December 1, 2009 and April 30, 2010.

Quick Facts:

  • You must have a signed purchase agreement for your home no later than April 30, 2010 and the transaction must close no more than 60 days after that date.
  • You are considered a first-time homebuyer if neither you nor your spouse has owned a principal residence in the U.S. within the last three years.
  • You are considered a current homeowner if you have lived in your primary residence for at least five of the last eight years. Then you are eligible for a tax credit up to $6,500 when you contract to purchase a home before April 30, 2010, and close by June 30.
  • For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return.
  • People with higher modified adjusted gross incomes can now qualify for the credit. For individual filers the income limit is up to $125,000 and for joint filers the income limit is up to $225,000.

More details and updates are available for your review by visiting the following:

 

First Time Home Buyers find answers at Missouri Credit Union.Exclusive Offer: First-Time Home Buyer Program — MCU Saves You $1,300!

When you decide that you're ready to look for a home, the search can be exciting yet overwhelming: How many bedrooms? What amenities are a "must-have"? What school will the children attend? What's our neighborhood like?

Once you find your dream home, how will you finance it? There are so many types of mortgage loans — which one is best for you?

MCU reduces the stress of buying your first home by saving you up to $1,300 in closing costs*, answering all your questions, and helping you choose the right mortgage.

Additionally, MCU's first-time home buyer program can save you up to $1,300 in closing costs!* Check out the details and fill out the online Prequalify for Home Loan form. It's surprisingly simple!

[ Quick Links: Home Rates | Loan Application | Policies & Disclosures ]

*With approved credit. Some restrictions may apply.

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