Welcome! Real estate is one of the most exciting investments one can make. Whether you're buying for the first time, moving to a bigger home, or looking for something smaller, finding a house that meets your needs should be a fun and rewarding experience. Team True Light is here to help you every step of the way. We'll work hard to make the process go as smooth as possible.
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FYI
*$7,500 TAX CREDIT FOR FIRST-TIME HOMEBUYERS: With certain
exceptions, a first-time homebuyer will receive a tax credit of 10% of the
purchase price up to $7,500 maximum, for the tax year in which the buyer
purchases a principal residence. The tax credit, however, must be repaid like an
interest-free loan in equal installments over the next 15 years or in full if
the homebuyer sells the property for a gain. A buyer qualifies as a "first-time"
homebuyer as long as the buyer (and spouse if any) has not owned a principal
residence in the U.S. for the last three years. The tax credit phases out for a
taxpayer with a modified adjusted gross income over $75,000 (or $150,000 for
joint returns). This tax credit is available for qualifying homes purchased from
April 9, 2008 through June 30, 2009.
*The Economic Stimulus Act of 2008 will allow HUD's Federal Housing Administration (FHA) to temporarily increase its loan limits and insure larger mortgages at a more affordable price in high cost areas of the country. The maximum loan amount for San Bernardino and Riverside County is $500,000 and for Los Angeles County and Orange County it is $729,750. See News Release.
*If you purchased a property within the last 3 years, you may be able to save on taxes by submitting a Decline-In-Value Reassessment Application to your County Assessor's Office.
