Existing and first time home buyers qualify for a tax credit.  If you have owned your home for at least five years out of the last eight and you are considering buying a new home, you may qualify for up to a $6,500 tax credit.  If you are a first time homebuyer or if you haven’t owned a home in the last three years you may qualify for up to an $8,000 tax credit.  In either case you must be under contract to purchase a home by April 30, 2010 and close on that home by June 30, 2010.  Give us a call for more information as well as your tax advisor.