More than 50k have gotten first-time homebuyer tax credit in N.C.

As we wrote about last week, Friday was the deadline to qualify for the first-time and repeat homebuyer tax credits being offered by the government.

Buyers had to put a home under contract by April 30 and close by June 30.

The Internal Revenue Service reports that nearly 56,000 North Carolina taxpayers have collected $400 million in first-time homebuyer credits as of February 20. 

In South Carolina, more than 27,000 taxpayers have collected more than $197 million in first-time homebuyer credits.

The repeat buyer credit has only been available since November.

Taxpayers claim the credit on their federal income tax returns, which means it will be many months before the government offers up a full accounting of the program's cost.