Inlanta Mortgage Reminds Homebuyers about $6,500 Move-Up Tax Credit on Single-Family Homes

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Move-up tax credit added in November and encourages homeowners to upgrade or move into another property. A signed contract must be completed by April 30, 2010 in order to qualify.

Inlanta Mortgage is reminding potential, qualified homebuyers about the move-up $6,500 tax credit that expires on June 30, 2010. In order to qualify for the tax credit, a signed contract must be completed by April 30, 2010.

“There has been a lot of emphasis on the first-time homebuyer tax credit. However, there is also a tax credit for those who have lived in their homes for more than five consecutive years and want to buy a different house. This program encourages homeowners to upgrade or move into another property and helps keep the home inventory as low possible,” said Jim Krantz, Director of Business Development at Inlanta Mortgage.

The move-up tax credit was added in November when Congress extended the $8,000 first-time homebuyer tax credit. Individuals with annual income less than $125,000 and married couples that file a joint tax return with an annual income less than $225,000 qualify for the program. Those whose incomes are above those limits may qualify for a portion of the tax credit.

Homebuyers do not need to purchase a home that is more expensive than their existing home and cannot purchase a home that is more than $800,000. In order to qualify for the tax credit, the borrower must have lived in his or her current residence for at least five consecutive years.

For more information about the move-up tax credit, please call 262-513-9853 or email jimkrantz(at)inlanta(dot)com.

About Inlanta Mortgage
Headquartered in Waukesha, Wis., Inlanta Mortgage is a mortgage banking company conducting business in Wisconsin, Illinois, Indiana, Iowa, Florida, Michigan, Minnesota, Missouri and North Dakota.

Established in 1993, the company has grown to 25 branches in nine states and more than 135 employees. Inlanta Mortgage provides its partner branches with outstanding support services, including underwriting, marketing, compliance, processing, human resources, training, technology, accounting, legal and in-house funding. Customers working with Inlanta Mortgage professionals have access to a variety of loan programs, including FHA.

Inlanta Mortgage upholds the highest level of honesty and ethics, delivering superior service and building long-lasting relationships. It is a member of the Mortgage Bankers Association and Lenders One, the largest cooperative of mortgage bankers in the nation. Inlanta is an accredited member of the Better Business Bureau with an A+ rating.

For more information, please call Inlanta Mortgage at 262-513-9853, email partner(at)inlanta(dot)com or visit the company’s website at http://www.inlanta.com.

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