Opportunity of a Lifetime for
First Time Home Owners
Housing Stimulus Bill Synopsis
First Time Home Buyer Tax Credit
Housing & Economic Recovery Act of 2008

Amount of Credit:
10% of cost of home,
not to exceed $7500
First Time Home Buyer Tax Credit
Housing & Economic Recovery Act of 2008

Eligible Property:
Any single family residence
(including Condominiums and Co-operatives)
that will be used as a principle residence
First Time Home Buyer Tax Credit
Housing & Economic Recovery Act of 2008

Refundable:
Yes.
Reduces income tax liability for the year of
purchase.
Claimed on tax return for that tax year.
First Time Home Buyer Tax Credit
Housing & Economic Recovery Act of 2008