Question: Are you qualified to use the 6500 tax credit if you refinanced last year?

(Posted by: rogerthorpe on 2010-03-03 15:07:23)

Posted by: Bostonian In MO on 2010-03-03, 15:17:21

Refinancing has nothing to do with the credit. If you just did a re-fi of your current home then you don't qualify for the credit. Did you own and occupy a home as your principal residence for at least 5 continuous years out of the past 8 AND did you purchase a new home on or after Nov 7, 2009 and by April 30, 2010 (or close by June 30, 2010 if under contract by April 30, 2010) and occupy that new home as your principal residence with the intent of owning it and living their for at least 3 full years from the closing date? If so, you qualify for the $6,500 credit. If not, then you don't.

Posted by: tro on 2010-03-03, 17:19:07

Refinancing in not buying a new residence, no