Federal Tax Credit for Minnesota first time home buyers
Currently, the government is not offering a federal tax credit for buying a home. If you purchased in any of the years that the tax credit was available, you need to be aware that the federal tax rules are NOT the same with each year’s program. Please consult an accountant if you were able to receive this credit.
Buying a home is still worth it – tax credit or not. You will save well over $8000 with today’s low rates, reduced house prices, as well as the benefit of being able to deduct your yearly mortgage interest and property taxes.