As part of the "Housing and Economic Recovery Act of 2008" that was recently signed into law, Congress has created a new, temporary federal income tax credit to provide an incentive for first-time homebuyers. This program affects first-time homebuyers who have purchased any single-family home between April 9, 2008 through July 1, 2009.

For additional information you can visit the National Association of Realtors® and check their quick reference chart and Frequently Asked Questions.