Bohmian.org - Discussion - First-time homebuyer credit

First-time homebuyer credit

First-time home buyers can often receive additional tax credits as both a fiscal incentive to encourage them to purchase a house (thereby helping the housing market and the economy), as well as to help make housing affordable to those whom it would otherwise be out of reach. There are often limits, such as an income ceiling one must be under in order to receive the credit, or geographical restrictions on where the home can be located as an effort to encourage growth or gentrification within that area.