First-time homebuyers tax credits are still available! This is a credit and not a deduction.  That means that you will receive up to an $8,000 tax credit for being a first-time homebuyer or if you’ve not owned/bought a home in 3 years.  The credit is the lesser of 8,000 or 10% of the purchase price.  So a 70,000 purchase would equate to a credit of 7,000, but a 100,000 purchase would equal an 8,000 credit.  In Ames, IA visit our website www.billjenningsrealestate.com or email me at billjennings@remax.net for more information!  REMAX Ames, IA