Submitted By: Larrie
Answered: August 20, 2013 8:30 am

Is there a first-time homebuyer credit for someone who buys a house in 2013?

No. The first-time homebuyer credit ended in 2010 and it has not been extended. There’s probably no chance that Congress will change its mind anytime soon because the housing market has picked up.

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Tax Glossary

Points

Charges to the homeowner at the time of the loan. A point is equal to 1 percent. Depending on the type of loan, points may be currently deductible or amortized over the life of the loan.

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