Quote Originally Posted by flippinstick View Post
The $8000 tax credit is good but if you move remember it has to be payed back. You can get $5000 grant money from the state also but $1000 is knocked off for each year you stay. So say you get the $5000 and stay 4 years and sell...only $1000 will have to be paid back. If you stay 5 years you have to pay nothing back. Just something to think about.
The $8,000 for this year does NOT have to be paid back. The $7,500 from last year did.

At least what I can gather from www.federalhousingtaxcredit.com