Unfortunately, no. However you can wait. This might change. The tax credit is about to come to a completion December 1st. But as the date gets closer there is more and more discussion wether it will be extended and possibly changed. They might change the guidelines. If they do it might open up the doors for other home buyers. My suggestion to you at this point would be to wait and see if they come up a new plan. Good luck.

Unfortuately, no. There has been much confusion about this matter. In South Dakota, if you own a mobile home, you can still qualify for the South Dakota First-time homebuyer program. But that first-time homebuyers status does not carry through to the 2009 income tax credit.

IRS Form 5405 (the form used to claim the credit) states that to claim the credit, you cannot have owned a "main home" in 3 years. It then goes on define a main home as: "one you live in most of the time. It can be a house, houseboat, housetrailer, cooperative apartment, condominium, or other type of residence."

So you would qualify for the SD first time homebuyer program, but not the $8,000 income tax credit.

Tristan Emond
Prudential Kahler REALTORS