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.
Disclaimer
This information on this Web site is for general guidance only.
The information on this site does not constitute the provision of legal advice, tax advice, or professional consulting or any kind and should not be used in substitution for consultation with professional tax, accounting and legal advisors.
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