Tax Credit for Home Buyers First-time home buyers who purchase homes from now until the end of April 2010 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction - a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income. INTEREST RATES AND HOME PRICES ARE STILL AT HISTORICAL LOWS - DON'T DELAY CALL YOUR FAVORITE REALTOR TODAY!