Another addendum to H.R 3548 “Worker, Homeownership, and Business Assistance Act of 2009,” extends and expands the popular Homebuyer Credit. Under the new provisions, first-time homebuyers have to sign a sale agreement by the end of April 2010 and close on the house by the end of June 2010. While the first-time buyer credit remains 10% of the home’s purchase price up to a maximum of $8,000, a new provision allows homebuyers who have lived in their current home for 5 years and who purchase a new home to also receive a credit of 10% of the home’s purchase price, but it is limited to a maximum of $6,500. See this IRS news article for income limitations and further information, and contact us with questions.