$7,500 for First time home buyers who purchase a home from April 9, 2008 and before July 1, 2009.

Requirements: Income must be less than $75k for single and $150k for married couples. First time home buyers only. Must be your primary residence. If the house is sold, immediate payment of the balance is required. 

Benefits: Tax free interest loan of $7,500

Terms: 0% interest, 15 years payment plan at $500 a yr. $42 dollars a month. 

Tips: TryMyDEALs recommends you change your withholding by filing a Form W4 with your employer to have a higher take home pay. 

Explanations:

First Time Home Buyer -
A buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the ownership history of both the home buyer and thier spouse. For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.