Erick Rojas
Biafora Realty
323-493-3397
erojasrealtor@aol.com
DRE #01432441

"Building Lifelong Relationships - One Home at A Time"

Date closing must be complete: Contract must be entered into prior to April 30, 2010, but allows for 60-days extra for escrow to close and still be eligible for tax credit (June 30, 2010)

Can Step-up Homebuyers use credit? Yes, 10% of purchase price capped at $6500.

What is a Step-up Homebuyer? Must have lived in primary residence for five consecutive years out of eight last years.

Does a Step-up Homebuyer have to buy a larger or more expensive home? No

Do I have to sell my current principle residence for the step-up credit? No. However, your new home MUST be your primary residence for at least three years. You cannot use your current homeas a primary residence again for at least three years.

Can I still get the credit if I purchased a home prior to the enactment of this credit but qualify under a previous or latter version of the tax credit? No, if you closed escrow during the dates of this tax credit, only these qualifications and restrictions apply to you. You cannot use any qualifications from the other tax credit time periods.

Is this credit for the seller of a home? No

Type of property: Use by purchaser Primary Residence Primary Residence Primary Residence Can mortgage bond be used for financing? Yes

Erick RojasBiafora Realty 323-493-3397erojasrealtor@aol.comDRE #01432441"Building Lifelong Relationships - One Home at A Time"

Erick Rojas
Biafora Realty
323-493-3397
erojasrealtor@aol.com
DRE #01432441

"Building Lifelong Relationships - One Home at A Time"