Understanding The New First-Time Homebuyer Federal Income Tax Credit

With all the new information floating around the internet about the First-Time Homebuyer Federal Income Tax Credit, I figured a quick summary and a dynamite link to an explanation page was in order.

Last week, our new President signed the American Recovery And Reinvestment Act of 2009, which included significant improvements to the temporary First-Time Homebuyer Tax Credit. At a bare minimum, it raised the maximum credit from $7,500 to $8,000, but there was so much more.

Follow This Great Link To Summary Of First-Time Homebuyer Federal Tax Credit