California lawmakers have voted to extend a $10,000 tax credit for first-time homebuyers.
The credit will apply to first-time buyers who purchase new or existing homes between May 1 and Dec. 31 of this year. It is for 5 percent of the purchase price, or up to $10,000.
However, this is a first come first serve program. Once the program cumulatively reaches One-Hundred Million Dollars in credits it will be suspended.