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First Time Homebuyer Program FAQ « Informational Sheets « Downloads
| Attribute | Value |
|---|---|
| Version | 2009-4 |
| Date posted | April 23, 2009 |
| Downloaded | 502 times |
| Categories | Informational Sheets |
| Tags | first time homebuyer, FAQ, frequently asked questions, first time home buyer tax credit question, what is first time homebuyer tax credit, who is eligible for first time homebuyer tax credit, what is the first time homebuyer tax incentive |
Description
In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over-supply of homes for sale.
For 2009, Congress has increased the credit to $8000 and made several additional improvements. This revised $8000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009.
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