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is the $15000 tax credit for first time homebuyers only?

What is the chance of it being passed?
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February 09 2009 - Aiken
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Profile picture for Lady Chattel
Next summer I will qualify as a new home buyer.....woo hoo, bring on mo money mo money........
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July 21 2009
Profile picture for sunnyview
This did not pass but there is an $8000 credit for first time home buyers. You would be considered a first time buyer if you have not owned a home for three years (36 months) prior to buying your new home. You can get more information to see if you qualify from the IRS FAQ here or this site from the national homebuilder association here is also very helpful and easy to read. Hope the links help.
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July 21 2009
Profile picture for Pearly Belle
Did this pass?

We are getting ready to buy a brand new manufactured home. We are not first time home owners. Will we qualify for this?

Is there a link I can go to a read for myself?
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July 21 2009
Profile picture for workabee
I think it will pass. They have to try something to stabilize market. This is it.
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February 09 2009
not signed into official law yet.
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February 09 2009
Profile picture for MGYSGT B
NO!  However, the credit will only be available if the purchase is to be your "primary" residence.  Additionally, it is not an automatic 15K credit.  It is 10% of the purchase price up to 150K.  R/MGySgt Jim Brander
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February 09 2009
 
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