Get 1 Time Buyer/Applicant

Requirements for Biden's First-time Homebuyer Tax Credit Make no more than 160% of your area's average median income (AMI). You must be a first-time homebuyer OR have not owned a home in the last three years. You must occupy the property as your primary residence for a minimum of four years.

An individual is to be considered a first-time homebuyer who (1) is purchasing the security property; (2) will reside in the security property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the ...

An individual is to be considered a first-time homebuyer who (1) is purchasing the security property; (2) will reside in the security property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the ...

We define “first-time home buyer” as any person or family who has not owned, or had an ownership interest in, a home within the past three (3) years.

Requirements for Biden's First-time Homebuyer Tax Credit Make no more than 160% of your area's average median income (AMI). You must be a first-time homebuyer OR have not owned a home in the last three years. You must occupy the property as your primary residence for a minimum of four years.

The Biden First-Time Homebuyer Act of 2021 is a bill that would provide a refundable tax credit of up to $15,000 for first-time home buyers. The proposed law seeks to revive and update a 2008 tax credit that has since expired.

Unfortunately, this credit no longer exists. However, legislation to create a new refundable tax credit of up to $15,000 for first-time homebuyers was introduced in April 2021. But as of March 2023, the legislation still has not passed in Congress.

A first- time homebuyer is an individual who, with his or her spouse if married, has not owned any other principal residence for three years prior to the date of purchase of the new principal residence for which the credit is being claimed.