First time home buyer /first time home builder?

[asly]

Hi there, we just used the first time home buyer credit to purchase a home, used it as our down payment. My husband hasn't owned a home in over two years, but I have, so we only got 1/2 the credit. It's a little confusing and I would recomend contacting your cpa to help figure it out. We were told that it had to be your primary residence to use the credit. We were also told we could build but had to have the final certificate of occupancy by Dec 2009. So... not sure if that would work for a buildable time-frame unless already started. We purchased an existing home.

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