The Best Is The First Time Home Buyer Tax Credit Refundable References. On april 28, 2021, u.s. In theory, when this tax credit is passed, the tax credit for first time home buyers will be equal to 10% of the home’s purchase price.

This means that this credit can only help cancel out any payable taxes. The credit allows you to receive a tax rebate of $750, which. The credit is a refundable tax credit.