In an effort to stimulate the slowing economy and help revive the housing market congress has enacted legislation providing a tax credit up to $8,000 for first-time ho
me buyers. The home must be purchased on or before January 1, 2009 and December 1, 2009. The governement defines "first-time home buyer" as a buyer who has not owned a principle residence during the three-year period prior to purchase. The tax credit is equal to 10% of the purcahse price up to $8,000 and unlike the tax credit of 2008, the 2009 credit doesn't have to be repaid. Check out our Buyer Resources for more details on purchasing your first home.
me buyers. The home must be purchased on or before January 1, 2009 and December 1, 2009. The governement defines "first-time home buyer" as a buyer who has not owned a principle residence during the three-year period prior to purchase. The tax credit is equal to 10% of the purcahse price up to $8,000 and unlike the tax credit of 2008, the 2009 credit doesn't have to be repaid. Check out our Buyer Resources for more details on purchasing your first home.
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