If you are like thousands of homeowners you may be wondering does the extended tax credit apply to me? I was able to look at a simple and easy to understand video on the subject and it really helped to clarify if I was eligible. Unfortunately since we just moved just over three years ago we do not qualify but there are thousands of home owners or first time home buyers who can take advantage of this tax credit while enjoying some of the best mortgage rates in over 40 years. The Real Estate Tax Benefit has two components that allow first time home buyers or those looking to upgrade their homes a chance to receive anywhere between $6500 to $8000 in tax credits. The key is that you must have a written contract in place by April 30, 2010 and closed on your home by June 30, 2010.
This video from Coldwell Banker gives you information to help you decide:

This and other stimulus are helping to keep one of the biggest financial components of our economy headed in the right direction. You can consult with your realtor about whether you qualify for the 2010 home buyers tax credit if you are in the market for buying a new home. Now is the best time to purchase a new home because there is large inventory and motivated sellers who are looking to move or get out from under their current home.