$8000 Tax Credit for First Time Homebuyer

Update November 2009: This tax credit program has been extended and expanded. An updated version of this article with new details can be found here.

For this tax credit program, the IRS defines a first-time home buyer as 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 and is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

Additional Resources:

2009 First-time Home Buyer Credit - Basic Details
National Association of Realtors

Tax Break For 2009 First-Time Home Buyers
IRS.gov


For more information about the $8000 tax credit, call Barbara Meager at 972.596.1500.