7 tax breaks every first-time homebuyer must know

Beverly Bird

The tax landscape changes yearly. Congress meets occasionally to review and adjust the tax code, so first-time homebuyers must keep on their toes to understand year-to-year tax changes.

The government provides tax breaks for homeowners as a means of getting people to buy homes. Homeownership offers multiple home tax deductions and other breaks that aren't available to those who rent. If you bought your first home in 2016 -- or you're hoping to buy one in 2017 -- it can pay to familiarize yourself and claim current deductions and credits.

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