Who is eligible? First-time homebuyers or any homebuyers who have not owned a principal residence in the last three years How does it work? Eligible purchasers can claim the $7,500 credit on their annual tax return form. •· Amount of credit: 10% of cost of home or a maximum of $7,500 Repayment: Two years after the credit is claimed, the homebuyer will have to start paying it back. 15 equal annual installments will have to be paid back to … (0 comments)
Go get your $7,500 15-year interest free loan from the government
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