Tax Credits Provide Outstanding Opportunities for Home Buyers. The Worker, Homeownership and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers. These tax credits on home purchases are available if you sign a contract by April 30, 2010 and close by July 1, 2010. Contact us for more information on how you can qualify for this tax credit and apply it towards the cost of your new home.