It's Time To Buy! The 2009 First Time Homebuyers Credit has created an opportunity you may never see again. Use this program to make the most of your first home purchase, and start enjoying the benefits of owning a home now ...$8,000 Homebuyer Tax Credit Program:
- First time homebuyers may be eligible for up to $8,000 in tax credit when they purchase a home. The credit is based on 10% of the home's value up to a maximum credit of $8,000.
- Buyers that have not owned a primary residence for three years are considered a first time homebuyer.
- The home must be purchased between January 1 and December 1 of 2009. Those purchasing before or after these dates are not eligible.
- To qualify, adjusted Gross Income of $75,000 for an individual and $150,000 for a married couple are the markers for a full refund. If you make more, a reduced refund may apply.
- Buyers must live in the home for at least 3 years, or they will be obligated to pay back the credit.
