If you bought your first home after April 9, 2008 you are eligible for a credit this year!  If you have been thinking about taking the plunge (and why not?) you only have until July 1, 2009 to take advantage!  It’s called a buyer’s market for a reason.  There is an abundance of inventory, prices are low and interest rates are great!

This tax credit, like everything else, has some restrictions and provisions that you should note.  For instance, there are income limits and the tax credit is considered an interest free loan that must be repaid over 15 years.  Check out all the details on the IRS website or go to http://www.federalhousingtaxcredit.com/index.html.