Field Guide to Working with First-Time Homebuyers
(Updated November 2009)
The Homebuyer Tax Credit is a boon for first-time homebuyers and the new, expanded tax credit will enable some current homeowners to also take advantage of the tax credit. REALTORS® can use the resources, tips, statistics and links in this Field Guide to help clients through the challenging first-time homebuying experience. (D. Foligno)
Tax Credit Resources and Information
If you have specific questions or need additional information, contact a tax professional or the Internal Revenue Service at 800-829-1040.
Tax Credit Comparison Chart, (National Association of REALTORS®, 11/9/09).
The Basics: Extended Home Buyer Tax Credit 2009/2010, (National Association of REALTORS®).
Homebuyer tax credit, (Federal Housing Tax Credit.com).
First-time homebuyer tax credit, (IRS.gov, Nov. 6, 2009).
First-time homebuyer credit Q&A: Basic Information, (IRS.gov, Nov. 6, 2009).
First-time homebuyer credit Q&A:Homes purchased in 2009, (IRS.gov, Nov. 6, 2009).
First-time homebuyer credit: Scenarios, (IRS.gov, Aug 5, 2009).
REALTOR® Resources
Tax Credit Comparison Chart, (National Association of REALTORS®, 11/9/09).
The Tax Benefits of Homeownership, (Housing Economics.com, Mar. 27, 2009).
To reflect recent changes in the Tax Credit, the following NAR products will be updated by mid-December
Save Now With the Homebuyers Tax Credit, Item 135-90, (members may download this item for free).
Homebuyers' $8000 Tax Credit Promotional Letter Download, Item 135-95 (members may download this item for free).
Why Rent When You Can Buy – English Version, Item 86-90, (members may download this item for free).
Why Rent When You Can Buy – Spanish Version Download, Item E186-95 (members may download this item for free).
Consumer Tips & Resources
Common questions from first-time homebuyers, (HUD, Oct. 26, 2009).
55 Tips for First-Time Home Buyers, (Quicken Loans, Oct. 2, 2009).
Seven new rules for the first-time home buyer, (New York Times, Sept. 11, 2009).
Local Homebuying Programs, (HUD, Jan. 28, 2009).
Nine steps to buying a home, (HUD).
First-time home buyers' guide to taxes, (Bank Rate.com, Jan. 10, 2008).
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
How to Buy Your First Home, 2E (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Buying solo, (Chicago, IL: Penguin Group, 2005). HF 5438 Su6
Home buying for dummies, (Chicago, IL: Wiley Publishing, 2001). HD 1341 T98
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Getting a Mortgage
>> Have an idea for a new Field Guide? Click here to send us your suggestions.
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
E-mail 
