Who is Eligible?
- The $8,000 tax credit is available for first-time home buyers only.
- The law defines a first-time homebuyer as a buyer who has not owned a home during the past three years.
- All U.S. citizens who file taxes are eligible to participate in the program.
Types of Homes that Qualify for the Tax Credit
All homes, whether single-family, town homes, or condominiums will qualify. However, there are several conditions:
1. The home must be used as a principal residence and,
2. The buyer has not owned a home in the prior three years
For More Information
Complete details on the American Recovery and Reinvestment Act, click here.
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