What do you need to know?  The deadline to qualify for first time buyers and repeat buyers is: Contract by April 30 and close by July 1, 2010

How much will you get: Max: $8,000 first time buyers and Max for repeat buyers $6,500

Are there income limits: Yes

Who Qualifies: First time buyers and/or have not owned a residence for the past 3 years. Repeat buyers: principal residence for 5 consecutive years within the last 8 years. 

How do you get the benefit: buyers can appliy the credit to their 2009 tax returns, amended 2009 returns or apply the credit to 2010