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The Military and the Homebuyer Tax Credit

The Military and the Homebuyer Tax Credit

One of the lesser discussed provisions of last November’s extension and expansion of the homebuyer tax credit gives members of the military on active duty even more time to purchase in certain cirumstances.

From the National Association of REALTORS’ press release last November:

Armed services members, as well as intelligence service and foreign service personnel, who are on active duty and out of the U.S. for 90 days during any part of 2009, get an additional year to buy their homes, to May 1, 2011.

Note, this isn’t a carte blanche extension for all members of the military; it only applies to those who on active duty and out of the country for 90 days or more between December 31, 2008 and May 1, 2010.

So if you find yourself either being sent to or already stationed at Luke Air Force base here in Glendale after an out-of-country tour last year and you haven’t yet found the right house for you, there’s still plenty of time remaining.

For everyone else …

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