More than 14,700 Connecticut homebuyers already have collected over $103.3 million in first-time homebuyer credits, but the deadline for qualifying is near.

Homebuyers must have a binding contract to purchase a home by April 30 and must close on that home by June 30 to qualify.

The first-time homebuyer credit provides up to $8,000 for taxpayers buying a new home if it is their first home or if they have not owned a home in the three years before the date of purchase.

Legislation in 2009 expanded the credit to include longtime residents who purchase a new primary home after Nov. 6, 2009. To qualify for this credit, with a maximum of $6,500, eligible taxpayers must show that they owned and lived in their old home for five consecutive years during the eight years leading up to the new home purchase. For more information, visit IRS.gov/recovery.