First-time homebuyers are entitled to an $8,000 tax credit which was set to expire on the 30th of November, 2009.
President Obama has approved an extension of this tax break to the 30th of April 2010 as part of a $24 billion economic stimulus plan.
A first-time homebuyer is defined as buyer who has not owned a primary residence in the last three years.
Repeat buyers may also be eligible for a $6,500 tax credit. Read more about this tax credit.
