Attention military personnel…there is an added bonus for you in the recently extended and expanded homebuyer income tax credit program.

            The National Association of Realtors says armed service, intelligence and foreign service personnel on active duty and out of the U.S. for 90 days during any part of 2009 will get an additional year to buy their homes. Their deadline will be May 1, 20ll.

            They also will get a break on the terms of occupancy of the home. Most homebuyers using the tax credit must use the home as a principal residence for no less than three years or forfeit the entire credit. But military, intelligence and foreign service members do not have to repay the credit if they have to sell their home in less than three years because of official business.

            The tax credit program gives eligible first-time homebuyers a tax credit up to $8,000. Existing homeowners are eligible for a $6,500 tax credit, provided they have lived in the home they are selling, or have sold, as their principal residence for five consecutive years in the past eight years.

            Income limits for eligible homebuyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return.