Interest rates are rising, so now is the time to view and purchase. The Tax credit is still available for any Purchase and Sale Agreement signed by April 30, 2010. An additional 60 days are given to close the transaction.

If you are a repeat buyer and you have owned a home for five consecutive years (out of the past eight years) as your primary residence, you can take advantage of the $6,500 Tax Credit. Your home purchase cannot exceed $800,000. Filing individually, your income cannot exceed $125,000 or $225,000 if married and filing jointly. You must be 18 years of age or older.

If you are a first-time homebuyer there is an $8,000 tax credit available for you if you have not owned a home as your primary residence for the past three years. Your income cannot exceed $125,000 (filing individually) or $225,000 (married and filing jointly).