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First-Time Homebuyer’s Tax Credit Questions Answered

First-Time Homebuyer's Tax Credit
First-Time Homebuyer’s Tax Credit

If all these tax credits are confusing you, never fear! Here’s a simple, easy-to-understand source to make it all clear.

In 2008, Congress enacted a $7,500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over-supply of homes for sale.

For 2009, Congress has increased the credit to $8,000 and made several additional improvements. This revised $8,000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009.

Read all about it, including frequently asked questions, sample scenarios, and more at

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Tre Pryor, Editor-in-Chief

Tre Pryor is the recognized expert Louisville Realtor who can:
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