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First Time Homebuyer Tax Credit $8,000
$8000 First Time Home Buyer Tax Credit in San Diego  The $787,000,000,000 stimulus bill signed into law has some benefits for first time home buyers. In the bill signed by Obama there is an $8000 first time home buyer tax credit. This $8000 amount was sized down from $15000 in the original version of the stimulus package. Here in San Diego County California and rich foreclosure environments like Chula Vista in South County San Diego welcomes this first time home buyer $8,000 tax credit incentive.
Some of the details are that the home purchased must be the first time home buyers principal residence. There is a cap of $8,000 if the purchase price is higher than $800,000. A first time home buyer in San Diego or anywhere in the U.S. would be someone who has not owned a principal residence for 3 years. This will only apply to home buyers buying in 2009 so if you’re sitting on the fence of San Diego home buyers this could be the thing that gets you down off the fence and back in the market.
There are also income limits that state single buyers need a modified adjusted gross income of $75,000 or less ... more

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