First-Time Home Buyer Tax Credit at a Glance


The tax credit is available for first-time home buyers only.

The maximum credit amount is $7,500.

The credit is available for homes purchased on or after April 9, 2008 and before
July 1, 2009.

Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

The tax credit works like an interest-free loan and must be repaid over a 15-year period.



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