The home buyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.

This bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  This credit DOES NOT require repayment.  Most of the mechanics of the credit will be the same as under the 2008 rules:  The credit will be claimed on a tax return to reduce the purchaser's income tax liability.  If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Note that IRS provides filing guidance on First Time Home Buyer Tax Credit.  They will help the homebuyer understand the ways they can file to receive the homebuyer credit.

BETWEEN THE LOW INTEREST RATES AND THIS TAX CREDIT - NOW IS THE TIME TO PURCHASE. 

It is my understanding that this tax credit is also available to home buyers that have not purchased  a home in the last three (3) years, and will make this purchase their principal residence. 

Contact me so that I can assist you in accomplishing  the dream of home ownership.