Under the First-time Homebuyer Credit, what is the repayment requirement for purchases made before 2009?

Under the First-time Homebuyer Credit, for purchases made before 2009, the repayment requirement is to repay $500 per year for 15 years. This repayment schedule was applicable to homes purchased in 2008. This option is correct because it accurately reflects the repayment terms associated with the First-time Homebuyer Credit for pre-2009 purchases.