Governor Arnold Schwarzenegger Signs Extended Tax Credit for California Homebuyers

Home buyers can claim 5% of the purchase price or up to $10,000 for purchases made between May 1, 2010, and on or before December 31, 2010, or on or aft er *December 31, 2010, and before August 1, 2011. The credit is available to buyers on a first-come, first-serve basis, and it’s applied in equal amounts over a three-year period. Nearly 32,000 California homebuyers can claim state tax breaks of up to $10,000 starting May 1 under a bill signed by Gov. Arnold Schwarzenegger.

San Mateo, CA -- (ReleaseWire) -- 04/14/2010 -- The state legislature has passed assembly bill (AB) 183, which gives the Franchise Tax Board authority to extend $200 million in tax credits to California home buyers.

Buyers of new, unoccupied homes are allocated $100 million in credits, and first-time home buyers of existing homes get another $100 million. Home buyers can claim 5% of the purchase price or up to $10,000 for purchases made between May 1, 2010, and on or before December 31, 2010, or on or after *December 31, 2010, and before August 1, 2011.

The credit is available to buyers on a first-come, first-serve basis, and it’s applied in equal amounts over a three-year period.

FREE information is provided to consumers regarding First Time Homebuyer Tax Credit at

http://www.californiahousingtaxcredit.com

This site is also loaded with FREE REPORTS, an informative home buying guide, mortgage calculators consumers can use to run various loan scenarios and home buying resources you can use to save time and money before and after you purchase your home.

If you're planning to buy your next home, your first home, that dream home, a condo, vacation home, investment property or looking to refinance in California, you will find that this site is a complete resource full of insider secrets that will allow you to choose the loan program best suited to your financial needs.

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*12 Secrets To Lowering Your Homeowners Insurance Cost Your Agent Doesn't Want You To Know

San Mateo, California - based mortgage expert Mike Ervin specializes in providing information to consumers that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.
Mike Ervin is available for interviews and will welcome all your mortgage related questions.

Call 650-931-0045 for a Free No-Obligation Consultation or visit http://www.californiahousingtaxcredit.com/

Media Relations Contact

Mike Ervin
California Mortgage Specialist
Mortgage California
650-931-0045
http://www.mikeervin.com/

View this press release online at: http://rwire.com/42413