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First-Time Homebuyer Credit Comparison Chart

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Tax Advisors

Author: Tax Advisors
Posted: 1/20/2010
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First-Time Homebuyer Credit Comparison Chart

Category: Home Loans

First-Time Homebuyer Credit Comparison Chart



Housing and Economic Recovery Act of 2008

American Recovery and Reinvestment Act of 2009

Worker, Homeownership and Business Assistance Act of 2009

Effective for purchases

After April 9, 2008 before January 1, 2009

After December 31, 2008 before November 7, 2009

After November 6, before July 1, 2010 (if binding contract in place before May 1, 2010)

Maximum credit




Maximum credit for  "long-time  residents"



$6,500 ($3,250 MFS)

AGI limits

$75,000-$95,000 ($150,000-$170,000 MFJ)

$75,000-$95,000 ($150,000-$170,000 MFJ)

$125,000-$145,000 (5225,000-$245,000 MFJ)

Purchase price limitation




"Regular" recapture

Credit recaptured ratably over 15-year period



" Accelerated" recapture

Unrecaptured amount at any time at the time of disposition to the extent of gain

Full recapture if residence ceases to be principal residence within 36 months of purchase

Full recapture if residence ceases to be principal residence within 36 months of purchase

For more information visit http://www.taxadvisors4you.com

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