950 Moves You In How it Works
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  • Tax Credit Extended!
  • $950 Moves you in!
  • Get up to $8,000 in Tax Credits
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Home Buyer Tax Credit Extended!
FEATURE Jan 1 - Nov 30, 2009
Rules as enacted Feb 2009 		Dec 1 - April 30, 2010
Rules as enacted Nov 2009
First-time Buyer
Amount of Credit 		$8,000
($4,000 married
filing separate) 		$8,000
($4,000 married filing separate)
First-time Buyer
Definition for Eligibility 		May not have had an interest in a principal residence for 3 years prior to purchase Same
Current Homeowner
Amount of Credit 		No Provision $6,500
($3,250 married filing separate)
Current Homeowner
Definition for Eligibility 		No Provision Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Termination of Credit Purchases after November 30, 2009. (Becomes April 30, 2010 on Date of Enactment.) Purchases after
April 30, 2010
Binding Contract Rule None So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Income Limits $75,000 - single
$150,000 - married
Additional $20,000 phase out 		$125,000 - single
$225,000 - married
Additional $20,000 phase out
Limitation on Cost of Purchased Home None $800,000
Anti-fraud Rule None Purchaser must attach documentation of purchase to tax return

 

Where is this Program Available?

The "$950 moves you in" program is now available at Sierra Woods in Farmersville, Walnut Wood Estates in Farmersville, and Ventura Estatates in Corcoran, by Donald Lawrence Construction.

Who Can Get the $950 Special?

This special financing is available through a city approved loan program for all qualified applicants (not just 1st time buyers). Eligibility is subject to income and credit approval, and the home being purchased must be the buyer's Primary Residence for 5 years. The buyer's total move-in cost is limited to just $950. Closing costs and rate reductions are paid for by School Fee Rebates and if necessary by the builder. PMI is financed at 102% of LTV (Loan to Value). For example a sale price of $173640.00 would have a total loan amount of $177112.80. Estimated monthly payment of $1221.23 PITI (Principal, Interest, Property Taxes, and Home Owners / Mortgage Insurance) at 5.5% on a 30 year fixed loan (5.875%APR). The buyer MUST be in a Purchase Contract with the Builder for the Preferred Lender to guarantee (lock in) the interest rate.


More Specials at Other Locations

First time Buyers may also qualify to move in for as low as $2,500 at River Run Ranch in Visalia and Pleasant Oak Estates in Tulare, by Donald Lawrence Construction. This is through an FHA Loan Program for all qualified applicants, and is subject to income and credit. The buyer's total cost is limited to a 3.5% down payment, or for qualified first time home buyers, down payment assistance programs (currently suspended by The State of California) may reduce the buyers total cost to as low as $2,500.

Closing Costs are Paid for by the Builder

Donald Lawrence Construction is paying the closing costs on all home sales. For example, at Pleasant Oak Estates, a sale price of $198640.00 with a total loan amount of $194562.15 would require a down payment of $6952.40. Estimated monthly payment of $1442.40 PITI at 5.5% 30yr Fixed (5.875%APR). Of course, prices and Interest Rates are subject to approval and may change without notice. The buyer MUST be in a Purchase Contract with the Builder for the preferred lender to guarantee (lock) the interest rate.

*Note: Currently the state of California has suspended all CalFHA special programs.
Please call for details.


Money from the Federal Government

An $8,000 tax credit is available for first time buyers (anyone who has not purchased a home in the last three years) from the federal government. Current home owners who have resided for 5 years of the past 8 years in a home and purchase a new home between November 6, 2009 and April 30, 2010 can receive up to a $6,500 tax credit. This money does not need to be repaid.


The tax credit applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. For sales occurring on or after November 6, 2009 expanded income limits apply: $125,000 for single tax payers and $225,000 for married tax payers filing jointly. Additionally in cases where a binding contract is signed on or before April 30, 2010 sale must close by June 20, 2010 to qualify.


Click here for more information: www.federalhousingtaxcredit.com



Special Program for Veterans

Veterans may choose from any Donald Lawrence location and get "$950 moves you in" or 0% down. The federal and state tax credits mentioned above may also be utilized by Veterans who qualify for these respective programs.



*Note: Currently the state of California has suspended all CalFHA special programs. Please call for details.