Home Real Estate-North

Important Information On The 2009 First-Time Homebuyer Tax Credit If you are a 1st-time homebuyer, now is the time to buy. Recently the House of Representatives and the Senate passed the American Recovery and Reinvestment Act of 2009 which includes the 1st-time homebuyer tax credit. Basic outline of the proposed bill: The tax credit is nice for a 1st-time homeowner's primary residence purchased Jan 1, 2009 to Dec 1, 2009; The tax credit is equal to $8, 000 or 10% of home's purchase price; It doesn't have to be repaid etc.