2010 Home Buyer Tax Credit... there's still time to buy a house to qualify for this credit.

This is a sponsored post on behalf of Coldwell Banker. The opinions contained herein are 100% my own.

Home buyers in the market for a first time home purchase will want to make sure that they sign their contract by April 30, 2010 and close by June 30, 2010, in order to qualify for the 2010 Home Buying Tax Credit. This credit is meant to entice cautious first time home buyers to purchase their first home, and it has worked for some. My sister's significant other did purchase a home last year to cash in on the $8,000 credit wagged in front of him like a carrot. For him, the credit was too good to pass up. He now owns a lovely home and instead of paying a landlord each month, his money is going toward building equity in a home.

Trade Up buyers aren't being left out of the fold either. If you purchased your home 5 or more years ago, you may be eligible for a $6,500 Home Buyer Tax Credit. Alas and alack, we fall a month short else we'd be sorely tempted to see if we could sell our home and move like we plan to in the future. There are income restrictions, but they are fairly generous and most middle class Americans shouldn't bust through the $225,000 cap on married couples ($125,000 for singles.)

To learn more about the 2010 Home Buying Tax Credit, please visit Coldwell Banker. Here is a link to their video, which did a good job of explaining the credit and how it benefits you, the home buyer, as well as the overall economy of our nation.

Note: This credit was extended in November. There's no guarantee that it will be extended again, so please bear that in mind when considering whether or not to buy a home to receive the credit. Don't lose out!