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First time homebuyers who buy a home

by November 30, 2009,

are eligible for an $8,000 tax credit.

  • You do not have to repay the credit, provided the home remains your main home for 36 months after the purchase date.

  • You can claim 10 percent of the purchase price up to $8,000.

  • You are considered to be a first-time homebuyer if you have not owned any other main home in 3 years.

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