New Widget: Do You Qualify for $8,000 First-Time Home Buyer Tax Credit?

No doubt that it’s a buyer’s market.  Home values have taken a hit in most markets throughout the nation and mortgage rates are relatively low. Plus, the government has offered up an $8,000 first-time home buyer tax credit , further sweetening the pot for any first-time home buyer out there. The $8,000 tax credit has been a source of confusion by those who might be eligible, but aren’t quite sure if they fully meet the criteria. For example, do you know the definition of a “first-time home buyer” according to this tax credit offering? It doesn’t mean you’ve never owned a home before — it means to be eligible for this program, you cannot have owned a home for the past three years prior to purchase .