First University Credit Union

1st-Time Homebuyers, those who have not owned a home within the last three years, are eligible for a tax credit of up to $8, 000 or 10% of their home purchase, whichever is less. Any home that will be used as a principal residence will qualify, offered the home is purchased for a price less than or equal to $800, 000. Under the extended homebuyer tax credit, which is effective between November 6, 2009 through April 30, 2010, single buyers with incomes up to $125, 000 and couples with incomes up to $225, 000 may receive the full tax credit.