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Local Information
New Home Buyers or First Time Home Buyers
Tax Credit Information
ATTENTION! Update: 5-20-2010
California Tax Credit may be available...hurry...
California Program
New Home Buyers or First Time Home Buyers may be able to take advantage of a tax credit for homes purchased in 2010.
- Available for taxpayers who purchase a qualified principal residence on or after May 1, 2010 and before January 1, 2011.
- Taxpayers MAY APPLY for the tax credits if they have entered into a contract BEFORE May 1, 2010, as long as escrow closes on or after May 1, 2010
- The tax credits are limited to the lesser of 5% of the purchase price or $10,000.00
- Tax payers must apply the total tax credit in equal parts over 3 successive tax years beginning with the tax year the home was purchased
- Tax Credits will be allocated on a first-come, first served basis
- Application and settlement statement must be received with 2 weeks (14 calendar day) after the close of escrow.
- More FTB Info...
- Download FTB Publication 3528 New Home Credit
Learn How To Take advantage of the Program
Contact one of Our Agents Today!
Federal Program
Although the Extended Home Buyer Tax Credit expired on April 30, 2010, home buyers who signed a written, binding contract by that date and close before July 1, 2010 may still be able to claim the credit. Read Full Article...
Expired 2009 First Time Home Buyer Federal
Tax Credit Brochures & Information
Download the Frequently Asked Questions...
National Association of Realtor's (NAR) Presentation...
Download the Federal 2009 Changes...
Download the Federal 2009 Tax Form...
For more information on the first time home buyer tax credit visit NAR...
Information courtesy of NAR - The National Association of Realtors
