Future St. Louis homeowners, you’re in luck!!!
The first time homebuyer tax credit was a program that was available for homes purchased as your primary residence between April 2008 and May 2010. Under that federal program, first time homebuyers got a tax credit equal to 10 percent of the purchase price of their home, up to a max of $8,000.
That federal program was allowed to expire, so there is no federal first time homebuyer tax credit available as of 2014. Fortunately, there are state-based first time homebuyer programs that can help fill that void.
These programs and tax credits vary from one location to another, but the definition of a first-time homebuyer is the same everywhere. If you have never owned a home, or haven’t owned a home in the last 3 years, you qualify as a first-time homebuyer.
Read full article here http://homeownership.org/news/state-first-time-homebuyer-tax-credit-2014/