The state of California is offering it’s own tax credit for home buyers. This will be IN ADDITION to the $8,000 federal tax credit being offered and explained in an article on this web site. The details are still not totally clear as the state Franchise Board will be coming out with complete details soon. But here’s what we do know:
- It begins on houses closed on after March 1st 2009 and before March 1st 2010
- It is NOT only for first time home buyers, it is available to all buyers of primary residences
- There are NO limits on income to qualify
- It’s is a $10,000 tax credit where $3,333 can be taken per year for the first 3 years after buying
So if you buy a house in CA over the next year, you could potentially have $18,000 in tax credits! That is amazing and unprecedented.
Please give me a call or write me an email to dicuss qualifying for a FHA Loan (or any type of home loan) and utilizing potentially $18,000 in tax credits.
Warm Regards,
Rob Chomentowski
Sr. Loan Officer and FHA Home Loan Specialist
858-922-7899 (direct)
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