http://taxvox.taxpolicycenter.org/blog/_archives/2008/8/5/3825965.html Unlike other credits, the new one is really a 15 year interest-free loan. Qualifying buyers will get a refundable credit of the smaller of 10 percent of their purchase price or $7,500 for homes bought between April 2008 and June 30, 2009. Because they don’t get the credit until they file a tax return—and not when they buy the house—it’s unclear how much the cash windfall will help with down payments—which presumably was the whole idea. And interest-free doesn’t mean free: they must pay the money back to the government over 15 years. en-us http://taxvox.taxpolicycenter.org/blog/_archives/2008/8/5/3825965.html http://www.vpop.net/image.gif