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Status of Federal Tax Credits for Home Purchase

The $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers have expired.

Armed service members may qualify for extension of time

Service members who were on official extended duty outside of the United States for at least 90 days between Jan.1, 2009 and May 1, 2010, may qualify for a one-year extension.

Complete purchases by September 30, 2010

For home purchases where a binding sales contract was signed by April 30, 2010, otherwise qualified buyers now have until September 30, 2010 to complete the purchase. Congress has extended the closing date to provide buyers who had binding sales contracts in place by April 30, 2010, additional time to complete their purchases.

More information here.