Tax Credit

A "first time home buyer" is an individual who has not owned a residence up to three years prior to the date escrow closes of the new purchase.  If you are a first time home buyer you qualify for the new $8,000 Federal "Tax Credit" or 10% of the homes purchase price, whichever is less.  Anything you purchase as a home qualifies under this program such as your Posted in

• $8000
• First Time Home Buyer
• Tax Credit
• Tax Refund

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With the new economic stimulus bill signed by President Obama, first time home buyers can receive 10% of their home purchase price (cash back) up to $8,000.  This is an additional $500 dollars from 2008.  If you purchased your home in 2009 you can still apply this to your 2008 taxes.  The idea behind this plan is to give people an innitiative to buy a home in this slow market and give them additional money to throw back into the economy by purchasing household items.  To qu