Georgia Conventional Jumbo Home Purchase Mortgage Loan

Mortgage Tax Credit First-Time Home Buyer Tax Credit at a Glance The tax credit is available for first-time home buyers only. The maximum credit amount is $7,500 The tax credit works like an interest-free loan and must be repaid over a 15-year period. The credit is available for homes purchased on or after April 9, 2008 and before July 1, 2009. Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.