Homebuyer Tax Credit Confusion

There seems to be a bit of confusion about the Homebuyer Tax Credit.
So, here it is in a nutshell:

~If you have not owned a home in the last 3 years you are
considered a first-time homebuyer.
~If you have a valid contract to purchase a home in place
before April 30th, and you complete the purchase before
June 30th, you are eligible to receive a check from the
U.S. Government for $8000.
~The home has to be your Primary residence.
~You can use this money for anything you want. It does not
have to be paid back unless you sell the home, or it ceases
to be your primary residence, within 3 years of purchasing it.

~If you have owned the same home for 5 of the last 8 years,
you are considered a Repeat Homebuyer. Follow the rules
above and you are eligible for a check for $6500.

If you are considering taking advantage of the Tax Credit,
you need to talk with a mortgage broker as soon as possible.
Find out what you can qualify for, and then get shopping.
As I discussed in an earlier post, you DO NOT want to wait
until the last minute to get your contracts signed.

I hope this helped to clarify things a bit.
Happy Hunting!