Learn About the 2009 Federal Tax Credit (Up to $8000)
Low Prices, Low Interest Rates, and $8000 Reasons to Purchase Now!!
$8,000 Home Buyer Tax Credit at a Glance
The information on this page pertains to the American Recovery and Reinvestment Act of 2009.
- The tax credit is for first-time home buyers only. For the 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.
- The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.
- The credit is available for homes purchased on or after January 1, 2009 and before May 1, 2010. If a contract is signed by April 30, 2010, a home purchase must be settled by June 30, 2010 to qualify.
- Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit for all sales occurring after November 6, 2009.
For additional information on the 2009 Federal Tax Credit, click here.
