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As far as financial situations are concerned, nothing is harder or more difficult than buying first home. People nowadays are having hard time to get their homes especially in the market and economy today. For those who new home buyers, buying their first home is usually harder as compared to when they buy their new home. Fortunately, things have changed greatly with the help of Coldwell Banker. Instead of the $6,500 credit and 3,250 when filing separate, those first time home buyers who are married will get $8,000 or $4,000 of credit when it is filed separately, which is the real estate tax benefit. The current owners of the home must have used their home, sold ir or being sold as principle residence with consecutive 5 years of the 8 previous years. On the other hand, those first time home buyers need to have only had a primary residence for their past 3 years. Both the previous home owner and the first time home buyer has bidding contract rule in which as long as the binding to purchase in still in effect on the 30th of April, year 2010, the buyer of the home will have until June 30, 2010 to close. The restriction involves the yearly income of $ 125,000 for singles and $ 225,000 for couples. $ 800,000 dollars is the cost for limitation for home purchase. If you are an independent, then you are instantly ineligible for the services that they provide but you may also need to present tax returns.