The Idaho $8,000 First-Time Home Buyer tax credit is on the verge of extension. The Idaho First-Time Home Buyer Tax Credit is set to be extended until April 30, 2010 if it passes legislation. As it stands right now the tax credit is set to expire on December 1, 2009.
There are some differences between the current tax credit and the proposed tax credit. There are two different factors the new legislation stipulates in that buyers must have a sales contract on a house by April 30, 2010 to be eligible, but it gives them an additional 60 days to close the purchase. The current $8,000 First-Time Home Buyer tax credit states that the transactions must be closed by November 30, 2009. So there is no additional 60 days to close on the property.
The other factor with the new legislation is that congress is considering a tax credit for some current homeowners. Details to follow soon.
If you or anyone you know has any questions pertaining to the $8,000 First-Time Home Buyer tax credit I would be more than willing to discuss them with you.
Andy Radke
Mortgage West
Senior Mortgage Consultant
Direct: 208-859-5825
Loanswithandy@gmail.com
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