First-Time Home Buyer Tax Credit. A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Sounds too good to be true? Learn how you can take advantage of this $8,000 tax credit to buy the home of your dreams. You might be a first time home buyer and not even know it……. Definition of a first time home buyer: Have not owned a home in the last three years. |