Home Buyer Tax Credit at a Glance

The tax credit is for first-time home buyers only.

The tax credit does not have to be repaid.

The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

The credit has been extended until April 30, 2010.  Home must be under contract by April 30, 2010, and must close by June 30, 2010.

Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

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