Can I get another solar federal tax credit if I move?

If I buy a primary home and get the $8,000 tax credit, how long before I can move out and rent the home out?

• I live in an apartment right now and have been looking for a new home, but I haven't found anything that I like. However, I don't want the $8,000 tax credit to pass me by. So my plan is to buy a primary residence and get the $8,000 tax credit, and then when I find a home that I like, I will move out of this first home and rent it out and then move into the home that I actually like. So if I take the $8,000 tax credit on the first home's purchase, how long do I have to live there?

• Answer:

  3 years otherwise you pay it back. You also need to make sure your mortgage lender allows the property to be rented out. Since your mortgage was for a primary residence and not a commercial loan. The fine print in many mortgages considers that as a violation and calls the loan in.