Good news for homebuyers! The $8000 tax credit for first time homebuyers was extended by the Senate panel today until April 30, 2010. Homebuyers only have to have an accepted contract by that date, with closing by June 30.
In addition, the credit was expanded to include other purchasers of a home as well. A credit of $6,500 will be offered to purchasers of a primary residence as well (this is not a first time home buyer).
Income limits were also raised, to $125,000 for single taxpayers, $225,000 for joint taxpayers.
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