Ever since its announcement, there has been considerable confusion over the first-time homebuyer credit.  A frequently asked question pertains to whether or not someone can co-sign on the note and still have the principal buyer qualify for the credit.  I had asked numerous lenders, title attorneys and other realtors all of whom had given me the same basic answer.  This being, “Well they should be able to qualify” or “They must be able to get it.  This was actually the conclusion I had already drawn, but wanted a definitive response.   After three weeks of trying to come up with the answer, I finally got to the bottom-line.   As long as the co-signer is not a spouse (who has owned a home within the last three years), the principal is indeed entitled to the tax credit.  The answer if provided by Rob Dietz, Ph.D., director of tax issues for the National Association of Home Builders.  If you would like further info, simply check the link:  Homebuyer Tax Credit.  Feel free to contact me for additional info on other First Time Homebuyer incentives.