Buy a house, get a check

According to the Minneapolis Star Tribune, the House has decided to extend and expand the first time home buyer rebate. First time home buyers are still able to get $8,000. Now buyers who have owned their current homes at least five years would be eligible, subject to income limits, for tax credits of up to $6,500.

Here are the basic rules as stated by the Star Tribune:

Buyers who have owned their current homes at least five years would be eligible, subject to income limits, for tax credits of up to $6,500. First-time homebuyers — or people who haven't owned homes in the previous three years — could get up to $8,000. To qualify, buyers have to sign purchase agreements before May 1 and close before July 1.

For more details, you can check out the NAR Issue Brief Homebuyer Tax Credit Changes. For more help, please contact Minnesota's Buyers Real Estate Group!