The Wall Street Journal has an excellent article on buying a home in today’s confusing real estate market.

How can you qualify for the federal government’s homebuyer tax credit program?

Under the program, first-time buyers can take up to $8,000 off their taxes, and existing-home owners can take up to $6,500. To qualify, a contract to buy must be signed by April 30 and the purchase must close by June 30.

When the program was expanded late last year, the income limits were raised. Now, individuals with adjusted gross incomes up to $125,000 and married couples with adjusted gross incomes up to $225,000 qualify on home purchases up to $800,000. If you owe less in taxes than the credit, the Internal Revenue Service will send you a refund check.

While mortgage loan rates have remained at historic lows (you may be able to qualify for a rate as low as five percent), many buyers are finding the lending process to be difficult and fraught with difficulties.

The end result is worth it, however. You will end up with a new home to enjoy for years to come.

Take away tip? Use professionals, every step of the way, from lender to real estate agent to home inspector to attorney. It will save time, money, and reduce headaches.