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The Evolution of Credit Card Usage 
Homeownership

State First Time Home Buyer Tax Credit

April 2024
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Melinda Opperman
tax documents that have money on top of it stating tax credit for home buyers

The first-time homebuyer tax credit was a program that was available for homes purchased as your primary residence between April 2008 and May 2010. Under that federal program, first-time home buyers got a tax credit equal to 10 percent of the purchase price of their home, up to a max of $8,000.

That federal program was allowed to expire, so there is no federal first-time homebuyer tax credit available as of 2014. Fortunately, there are state-based first-time homebuyer programs that can help fill that void.

These programs and tax credits vary from one location to another, but the definition of a first-time homebuyer is the same everywhere. If you have never owned a home, or haven’t owned a home in the last 3 years, you qualify as a first-time home buyer.

A note that says tax credit next to a calculator for first time homebuyers.

The programs listed below are statewide programs for the 50 states. These are subject to change, and there may be more programs available at the state, county, and city level. Using the HUD web portal to research state information is a great way to ensure the programs you’re researching are legitimate.

No matter where you live, you can always call us for confidential, one-on-one housing counseling. We can help you figure out what programs you are eligible for and make sure you complete the application process correctly. We have HUD-approved housing counselors standing by.

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If you need help with credit or debt, or want to learn more about budgeting or personal finance, get started with free, confidential counseling and education right here at Credit.org.

Article written by
Melinda Opperman
Melinda Opperman is an exceptional educator who lives and breathes the creation and implementation of innovative ways to motivate and educate community members and students about financial literacy. Melinda joined credit.org in 2003 and has over two decades of experience in the industry.

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