What types of home-buyer tax credits are available?

In Maine, there are a few different home-buyer tax credits available for those looking to purchase a home. The first is the First Home Program, which provides a tax credit of up to $2,000 for those eligible to claim it. This tax credit is available to first-time home buyers, as well as those who haven’t owned a home in the past three years. The credit is only applicable towards the purchase of a single-family home or a duplex. Another program is the Home Buyer Tax Credit, which provides a tax credit of up to $1,500 for those eligible to claim it. This tax credit is available to first-time home buyers, repeat buyers, and those purchasing a home as an investment. The credit can be claimed over the course of three years. Finally, there is the Home Ownership Tax Credit, which provides a refundable credit of up to $2,000 for those eligible to claim it. This credit is available to first-time home buyers, as well as buyers who have purchased a home within the past three years. The credit can be claimed over six years. In addition to these home-buyer tax credits, there are other incentive programs available to Maine residents, such as down payment assistance and low-interest loans. These programs are designed to help make homeownership more affordable for those who may not otherwise have the resources to make a purchase.

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What types of home-buyer tax credits are available?

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