If you are interested in learning more about the home buyer tax credit there is a FREE Quick Reference Guide : "Save Now with the Homebuyers Tax Credit" that answers questions such as : How does it work? Is it available at closing? Does it have to be repaid? When does it end?

To get your free copy just send an email to info@ShowMeTheKeys.com

Mike Walker, Realtor
Keller Williams Realty Greater Cleve. SW
330-571-2020

Go to http://www.irs.gov Your friend received $5000 because he/she probably owed $3000 in taxes. The credit is $8000. It cannot be used as a down payment. You can apply for it by ammending your taxes for this year if you've already done your taxes. You can't make more than 75k single 150k dual income and must not be on title of primary residence in last 3 years.

If you are a first time home buyer or you haven't owned a home in the past 3 years you may qualify for a First-Time Home Buyer Tax Credit of up to $8,000 or 10% of the purchase price whichever is lower. Be sure to check out the short video on my site http://www.ShowMeTheKeys.com as well as the FAQs which will answer many of your questions. You can qualify for this program if you purchase a home between January 1, 2009 and November 30, 2009.