Extension of the First Time Home Buyer Credit

On Friday, the president signed off on an extension of the first time home buyer tax credit that will continue the program through April 30, 2010. The legislation also expanded the credit to include existing homeowners of five or more year purchasing a new or existing home between November 7, 2009 and April 30, 2010. The National Association of Realtors has additional information on the guidelines for the first time home buyer credit and the expanded credit on their website. Maui first time home buyer’s should also be aware that the county of Maui is offering a new program that gives grants and assistance to first time home buyers. This program has been in effect since November 1, 2009 and has a limited supply of funds. Buyers are encouraged to act quickly to apply for this program before funds run out.