: The credit was only available for homes priced under $800,000 .
: Their joint modified adjusted gross income (MAGI) had to be below $225,000 to receive the full credit. The Benefit and the Paperwork long time homebuyer credit 2010
: They had to sign a binding contract by April 30, 2010 , and originally close by June 30, though this was later extended to September 30, 2010 . : The credit was only available for homes
: They had to prove they owned and used the same home as their principal residence for any consecutive 5-year period during the 8 years leading up to their new purchase. and originally close by June 30
Here is a look at how this credit worked through a typical scenario of the time. The "Step-Up" Story: Meeting the Deadlines