FEATURE

REVISED CREDIT - EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009

Amount of Credit

Maximum credit is $8000

Eligible Property

All principal residences eligible.

Refundable

Purchasers will receive refund for unused amount when tax return is filed.

Income Limit

Income limits apply.

First-time Homebuyer Only

Still available for first-time purchasers only. You are a First Time Buyer if you have NOT owned a home in the past three-years.

Revenue Bond Financing

Purchasers who utilize revenue bond financing can use credit.

Repayment

No repayment for purchases on or after January 1, 2009 and before December 1, 2009

Recapture

If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009.

Termination

December 1, 2009

Effective Date

All revisions are effective as of January 1, 2009