FEATURE

Jan 1-Nov 30, 2009
Rules as Enacted
February 2009

 Nov 7 - April 30, 2010
Rules as Enacted
November 2009

First Time Buyer 
Amount of Credit

 $8000
($4000 married filing separately)

 $8000
($4000 married filing separate)

First Time Buyer
Definition for Eligibility

 May not have an interest in a 
principal residence for 3 years 
prior to purchase

 Same

Current Homeowner
Amount of Credit

 No Provision

 $6500
($3250 married filing separate)

Effective Date
Current Owner

 No Provision

 November 7, 2009

Current Homeowner
Definition for Eligibility

 No Provision

 Must have used the home sold 
or being sold as a principal residence 
consecutively for 5 
the previous 8 years

Termination of Credit

Purchases after Nov 30, 2009
(Becomes April 30, 2010 on 
Date of Enactment) 

Purchases after
April 30, 2010 

Binding Contract Rule

 None

So long as a written binding 
contract to purchase is in effect on
April 30, 2010, the purchaser will
have until July 1, 2010 to close 

Income Limits
(Note: Increased income
limits are effective as of
date of enactment of bill)

 $75,000 -- Single
$150,000 -- Married
Add'l $20,000 Phase Out

 $125,000 -- Single
$225,000 -- Married
Add'l $20,000 Phase Out

Limitation on Cost
of Purchased Home

None

$800,000
November 7, 2009

Purchase by a Dependent

No Provision

Ineligible
November 7, 2009

Anti-fraud Rule

 None

Purchaser must attach
documentation of purchase
 to tax return