First-Time Home Buyer Tax Credit
There are some big changes on the tax credit for FIRST TIME BUYERS that recently passed. In 2008, the $7,500 “credit” was really a loan that was paid back over 15 years. The revised plan is really an $8,000 tax credit that does not have to be paid back. There are some income limits that apply. The chart below, provided by Starkey Mortgage, details the new plan and compares it to last years plan.
