First-time Homebuyer Tax Credit Extended and Repayment Waived
As part of the new stimulus package, i.e. American Recovery and Reinvestment Act of 2009, First-time homebuyers could get a tax credit of up to $8,000 if they buy homes in 2009. The credit refunds 10 percent of the purchase price, up to $8,000, to couples with incomes of less than $150,000. Those making up to $170,000 can get reduced credits, while those making more are ineligible. One nice feature: the credit is refundable.
