• Buy a new Standard Pacific Home and you may be eligible for a TAX CREDIT (not a loan or tax deduction) of up to $8,000.
• The credit is available for the purchase of a principal residence with a purchase price of $800,000 or less.
• The tax credit does not have to be repaid as long as the home remains your principal residence for three years.
• Available to qualifying homebuyers who sign a purchase agreement prior to April 30, 2010. Must close before July 1, 2010.
• The income limit is $125,000 for single filers, and $225,000 for joint filers.
• The tax credit can be claimed on a 2009 or 2010 tax return.

• Qualifying taxpayers can claim 10% of the purchase price. The maximum credit is $8,000, or $4,000 for married individuals filing separately.

• Qualifying taxpayers can claim 10% of the purchase price. The maximum credit is $6,500.
• Must have used previous home as a principal residence for 5 of the 8 previous years.

ADDITIONAL IMPORTANT DETAILS ABOUT THE TAX CREDIT: The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $125,000, or $250,000 for joint filers. Qualification for tax credit is based upon first-time homebuyer or move-up homebuyer status, income, purchase price of home and other Act and IRS requirements. You must consult your tax professional for complete tax credit details. A summary of the tax credit, for general guidance only, is found at federalhousingtaxcredit.com