First-Time Homebuyer Credit Extended for Members of the Military and Certain Federal Employees

Military and certain other federal employees have until April 30, 2011 to buy a home that qualifies for the federal first-time home buyer credit.

Joint Base Pearl Harbor-Hickam

You may be aware that the Worker, Home ownership and Business Assistance Act of 2009 extended and expanded the first-time home buyer credit allowed by previous Acts so long as eligible taxpayers bought, or contracted to buy, a principal residence on or before April 30, 2010.

Yet there are additional benefits for members of the military and certain other federal employees serving outside the U.S. They have an extra year to buy a principal residence in the U.S. and qualify for the credit until April 30, 2011. Additional details are available in an article on IRS.gov. This is good news for our military families that are looking to purchase a home here in Hawaii!