This week's guest post is brought to us by James Kelley.  James blogs on veteran's issues and real estate in the United States at VA Benefit Blog.  He also works for VA  Mortgage Center.com. proudly serving American military families as the nation's premier VA  lender.

For service men and women returning back home to Georgia from abroad, a great opportunity is awaiting. Until next spring, buying a home can also mean receiving an $8000 tax credit.

 Military service members, intelligence community personnel, and foreign service employees who have spent 90 days outside of the U.S. between January 1, 2009 and April 30, 2010 – with exceptions for those who returned early due to medical issues – can qualify for the tax credit and save money when buying their home.

 First and foremost, you have until April 30, 2011 to buy or enter into a binding contract and until June 30, 2011 to close your sale. This deadline gives military buyers an entire year longer than the regular citizenry (whose deadline has already passed) to qualify for the credit, accounting for military buyers’ service and special circumstances.

To qualify, there are some restrictions.

• Buyers must either be a first-time buyer or a long-time resident. First time buyers are those buying their first primary residence of the last three years, and long-time buyers must have lived in and owned the same residence for five consecutive years. Long-time residents can only qualify for up to $6,500.
• Buyers cannot spend more than $800,000 on their home purchase.
• Buyers yearly income must be less than $145,000 to qualify and less than $125,000 to qualify for the full $8,000 credit. Joint-filers’ yearly income must be less than $225,000 to qualify for the full credit.

 
So if you’re a current or former member of the U.S. Armed Forces who is looking to truly call the South your home, don’t let this opportunity to save pass you by.