1.4 Million Have Taken Advantage of First-Time Home Buyer Tax Credit.

More claims are expected.

With the First-Time Home Buyer Tax Credit deadline quickly approaching, the IRS recently reminded potential home buyers they must complete their first-time home purchases before Dec. 1, 2009 to qualify for the special first-time home buyer credit.

The credit of 10% of the purchase price, up to $8,000 is generally available to home buyers with qualifying income levels who have never owned a home or have not owned one in the past three years.

If you have not made a purchse yet and are considering doing so, here are some details about the first-time home buyer credit.

Have you received your credit yet?