The credit cannot be taken if your mortgage is funded with tax free bonds that states and localities issue to give below-market loans to moderate-income.

A job-related move will accelerate recapture. The credit already is recouped over a 15-year period, starting two years after the year when the credit is claimed. But the credit is fully recaptured once the home is no longer your primary residence.

So make sure that you take the higher tax bill into account if you are transferred. And there’s a rub involving divorce-related transfers of primary homes. Although the transfer doesn’t immediately trigger accelerated recapture of the credit, the ex-spouse who gets the home becomes liable for paying the credit recapture tax.