Great news for first time homebuyers purchasing fom after January 1, 2009,to before December 1, 2009, Buyers may receive a tax credit of up to $8000 if qualified and it does not require repayment. To  qualify as a “first-time home buyer” you or your  spouse may not have owned a home  three years prior to the purchase.You may apply for the tax credit to primary residences  such as single family homes, condos, co-ops, and townhomes.The maximum allowable credit  is $8,000.Which is determined by The price of the home.The credit equals 10% of the purchase price of the home, up to $8,000.Single buyers with an income of  up to $75,000 and married couples with an income of up to $150,000 can qualify for the maximum tax credit. To get more information, you can visit www.IRS.gov