San Diego California Move Up Buyers to Get Home Buyer Tax Credit!
Congress and the Senate Just Passed a tax credit for Move-Up Buyers. They could qualify for a tax credit of up to $6,500 and must have owned their current home at least five years.
Under the current tax credit program, first time buyers qualify for a tax credit of up to $8,000, but if you qualify you couldn't have owned a home for the past three years.
Under the move up buyer tax credit, income limits have risen. An individual will have to make less than $125,000 per year or under $250,000 per year as couples.
The new program will be in place currently until the end of June, 2010, so buyers will have to purchase and close escrow before then. The move up buyer tax credit can also be used for families looking to downsize and buy a smaller or less expensive home in San Diego.
To learn more about homes in San Diego that may qualify for these tax credits and actually search homes in your areas of interest for free, Click here, or the yellow map below!
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