For First-Time Homebuyers	For Current Qualifying Homeowners
Amount of Credit	$8,000 ($4,000) married filing separate)	$6,500 ($3,250 married filing separate)
Eligibility	May not have had an interest in a principal residence for 3 years prior to purchase	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Termination of Credit	Purchases after April 30, 2010	Purchases after April 30, 2010
Binding Contract Rule	So long as a written binding contract to purchase is in effect on April 30, 2010 the purchaser will have until June 30, 2010 to close	So long as a written binding contract to purchase is in effect on April 30, 2010 the purchaser will have until June 30, 2010 to close
Income Limits	$125,000 - Single $225,000 - Married Additional $20,000 Phase Out	$125,000 - Single $225,000 - Married Additional $20,000 Phase Out
Limitation on Cost of Home Purchased	$800,000	$800,000
Purchase Made by a Dependent	Ineligible	Ineligible
Additional Requirements	Purchaser must attach documentation of purchase to tax return	Purchaser must attach documentation of purchase to tax return