There is financial assistance available to first time home buyers. And if you have previously owned a home but have not owned a home for 3 years you may be eligible for the first time home buyer assistance.
Congress Enacts Bigger and Better
Home Buyer Tax Credit.
A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.
Information is available directly from the National Association of Home Builders.
Information is also available from the Internal Revenue Service (IRS), Department of the Treasury.
IRS Form 5405 to claim the first time home buyer credit.