Tax Credit to Aid First-Time Homebuyers


First-time homebuyers may be able to take a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. It’s available for a limited time only, and it operates much like an interest-free loan, because it must be repaid over a 15-year period. To find out more, see news release IR-2008-106.

Read a summary of the Act here.