Soho Square Lifestyle

PURCHASE A HOME TODAY

The best time to purchase a home is NOW. Homebuyers are encouraged to speak to the preferred lender (see below) in order to pre-qualify for a loan and to learn about the Federal and California tax credit incentives.

Soho Square is an FHA approved condominium project, which allows Homebuyers to qualify for a 3.5% down payment and a competitive interest rate loan

California Tax Credit
Take advantage of the Homebuyers California Tax Credit. You may qualify for a tax credit of up to $10,000. See below for highlights:

Tax credit is equal to 5% of the home’s purchase price up to a maximum of $10,000.
Tax credit is for a newly built home only.
The home must be a principal residence & the sale must close before March 1, 2010.
Tax credit does not have to be repaid as long as the home is the primary residence for at least 2 years.

Tax credit will be provided at $3,333 per year over three successive tax years.
No income restrictions.
Tax credit can be used in conjunction with the recently enacted Federal Tax Credit program.
The State has allocated $100 Million for this program, available on a first-come, first-served basis.

Federal Tax Credit
Congress has enacted legislation providing a tax credit of up to $8,000 for first-time homebuyers. See below for highlights:

Tax credit is equal to 10% of the home’s purchase price up to a maximum of $8,000.
Tax credit is available for homes purchased before December 1, 2009.

Tax credit does not have to be repaid as long as the home is the primary residence for at least 3 years.
Income restrictions: Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

Preferred Lender

Eddie Avakian
Bank of America
Home Loan Consultant
100 Wilshire Blvd Suite 600
Santa Monica, CA 90401
Phone: (310) 434-1808
Fax : (310) 458-3898
Cell: (310) 748-5195