| If you are planning to buy a new home in California, | | | | buyer credit, this is available to all people and not just |
| you may be eligible to receive the $10000 tax credit. | | | | for the first time home buyers. |
| These are issued to people who are buying a new | | | | => The good news is that this can also be |
| home to be used as a primary residence and not for | | | | combined along with the federal program and thus you |
| everybody. So if you are going to buy a vacation | | | | are going to save a maximum of up to 18000 dollars. |
| home, you are not going to get qualified. To get a | | | | But people who are not buying their home in California |
| more clear idea about the requirements and the | | | | will not be eligible for the 10000 dollar credit. So they will |
| guidelines of this program,see this brief explanation | | | | only qualify for the 8000 dollar credit. |
| below: | | | | => Here is some more information about the |
| => This program is available only until March 2010. | | | | amount of tax credit which is going to be issued to the |
| So you need to buy the home before this period so as | | | | borrowers: |
| to receive the benefits of this program, | | | | 1. If you purchase a home in California that costs |
| => People who are buying a new home between | | | | $150,000, your tax credit will be $7,500. |
| March 1, 2009 and March 1, 2010 will get qualified. The | | | | 2. If you purchase a home that costs about $200,000, |
| newly bought home should be used as the primary | | | | the tax credit is going to be $10,000. |
| residence and you need to live there for at least two | | | | 3. If you purchase a home that costs $450,000, your |
| years so as to avoid paying a part of the credit back. | | | | tax credit will be $10,000. |
| => Unlike the federal government's first time home | | | | |