• Available to First-Time Home Buyers-Principal Residence Only. (Those who have not owned a principal residence in the past 3 years. Vacation homes and rental property purchases are not eligible.) • For first-time home buyers, the credit is equal to 10% of the home's present value up to $8,000 or $4000 for married individuals filing separately. • Existing homeowners (or "repeat buyers") who have lived in their principal home for 5 consecutive years (out of the past 8 years) and are purchasing a new principal residence may … (2 comments)
$8000 First-Time Homes Buyer Tax Credit
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