- A first-time home buyer is someone who has not owned a principal residence during the three-year period prior to the purchase.
- The tax credit does not have to be repaid if you live in the home for 3 years.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
First Time Home Buyer Tax Credit for 2009
The 2009 Federal tax credit of up to $8,000 is a great opportunity for qualified first time home buyers purchasing their principal residence before December 1, 2009.
Visit http://www.federalhousingtaxcredit.com/ to learn more and take advantage of the credit to buy a home this year. Here are some of the highlights:
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