Tax Credit - Is now available for your 2008 or 2009 tax returns.  A First Time Homebuyer is defined as someone who has not purchased a primary residence within the last three years.  The tax credit is available for individuals who earn $75,000 or less and joint filers who earn $150,000 or less.  This tax credit is equal to 10% of the purchase price up to $80,000 or a maximum tax credit of $8,000.  The Homebuyer must remain in the home for 3 years to keep the full rebate and unlike last years tax credit does not have to be paid back!