McGhee, Suzanne Realtor - Lake Talquin Homes

Take advantage of the $8K tax credit before it's gone First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010 are eligible for the credit. To qualify as a 1st-time home buyer the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase. The maximum allowable credit for 1st-time home buyers is $8, 000 or 10% of the sales price, whichever is less. For current homeowners, it is $6, 500 or 10% of the sale price, whichever is less.