Extending the home buyer tax credit and at the same time expanding eligibility to more buyers is critical to helping the housing market recover. At the same time, this action will stimulate job growth and creation. Signature wants to thank the tireless efforts of Chairman Joe Robson at NAHB as well as everyone affiliated with the organization for their tireless efforts. Special appreciation also goes out to law makers responsible for the passage of this legislation including Sen. Johnny Isakson (R-Ga.).

For consumers it means better values when purchasing of a home. When a consumer is sitting on the fence trying to decide these credits can act as a significant catalyst.

The net effect to consumers is much more than $8000.00 and $6500.00. Consider financing $8000.00 for 30 years at a rate of 5%. The monthly savings with interest is $42.95 which translates to a total savings of $15,462.00 over the term of the loan. Financing $6500.00 at the same interest and term translates to a saving of $34.89 a month or $12,560.00 over the term. This is significant from any perspective.

Quick Facts:

• $8000 tax credit extended until April 30^th 2009 for first time buyers
• New $6500 tax credit for repeat home buyers effective till April 30^th 2009
• To qualify for either scenario buyers have till June 30^th 2009 to close
• Income limits for both categories include higher income limits. For individuals the amount is $125,000 and $225,000 for couples
• Repeat buyers must be moving up from a primary residence they lived in for 5 consecutive years out of the last 8 years. In order to qualify, repeat buyers need not move up in price.

Builders can send consumers to this page or www.FederalHousingTaxCredit.com