HOMEBUYERS: It’s a great time to buy!

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the Homebuyer Tax Credit*:

Up to $8,000 for qualified first-time home buyers
Up to $6,500 for current homeowners purchasing a principal residence
The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010.

Homebuyers may have a great opportunity to profit from the market downturn as falling home prices and lower interest rates make homeownership more affordable than ever before. More housing inventory is available and median home prices have fallen while rents continue to increase. Many renters with good credit and the ability to pay a mortgage may find the benefits of homeownership worthwhile.

See the IRS website or visit federalhousingtaxcredit.com for more information.

*Employees of Credit Union ONE are not tax professionals. The information provided should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, please consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question.