John L. Scott Real Estate
Sunday, October 21, 2018
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2009 First Time Home Buyer's Tax Credit

 

 
 

 

First-time buyers who have not owned a home in the past three years are eligible for up to an $8,000 tax credit.

  • Tax credit does not require repayment.
  • Credit is available to couples with gross income of less than $225,000 and individuals making less than $125,000.
  • Buyers must secure a binding contract by April 30, allowing 60 days to close.  

Qualified homeowners who have lived in their current home for at least five of the past eight years are eligible for up to a $6,500 tax credit to buy a home.