On July 30, 2008, housing bill H.R. 3221 was signed into law. As a result, a new temporary tax credit has been allotted as an incentive to first-time homebuyers. The $7,500 credit will be available for the purchase of a principal residence on or after April 9, 2008 and before July 1, 2009. The National Association of REALTORS® provides a first-time homebuyer tax credit FAQ guide to help you and your clients better understand this new legislation.
Download the NAR FAQ Sheet
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