$10000 CA Tax Credit

The American Recovery and Reinvestment Act brought us an $8,000 Federal Tax Credit and higher loan limits.

The $10,000 California State Tax Credit came from SB 15 and was part of the State Budget compromise.

Put these programs together and you may be eligible to receive up to $18,000 in State and Federal Tax credits along with a higher conforming loan amount. Buyers are beginning to understand the potential of these stimulus packages.

In the first three (3) days of the $10,000 California State Tax Credit, the Franchise Tax Board received over 170 requests for certification of the tax credit. The amount requested was over $1.7 million! That’s a lot of buyers, paying a lot of attention to the new stimulus legislation!