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Homebuyer tax credit ending Nov. 30

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Homebuyer tax credit ending Nov. 30
Detroit Lakes Minnesota 511 Washington Avenue 56501

The first-time homebuyer tax credit in ending soon.

The American Recovery and Reinvestment Act of 2009 included a stimulus that provides a maximum tax credit of $8,000 for first-time home purchases.

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The credit is due to expire Nov. 30. Those looking to utilize the credit must establish residency in their new home by Dec. 1.

Other eligibility requirements apply, including income limits, but individuals who exceed the limit may be eligible for a partial credit.

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