January 18th, 2011 4:23 PM by Kathy Delbridge
First Time Homebuyer Tax Credit for Military Personnel and Foreign Service Employees
A little-known (and mostly forgotten) provision of the Home Buyer Tax Credit bill that became effective on Nov 6, 2009, is that certain military personnel and Foreign Service employees have an EXTRA year to purchase a home and qualify for the tax credit.
In addition to that, if they sold a principal residence between Jan 1, 2009 & April 30, 2010 because they had to relocate at least 50 miles due to “orders”, they qualify for a tax credit, even if they owned a home between the above time periods. Income, age and sales price limitations still apply.
And must have had:
Tax Credit Dates Extended to:
Can get tax credit if:
Also, as a reminder. For every VA loan that I close, I do make a donation to the Wounded Warriors Family Support Fund, or any other military charity of the veteran's choice.
You can also download the following document that also details the First Time Homebuyer Tax Credit for military personnel. Click Here to view.