First time home buyers can no longer take advantage of the Federal First Time Home Buyer Tax Credit, but if you are in California you CAN take advantage of the first time home buyer tax credit of up to $10K that California has over a 3-year period.
Read more about the California 2010 First-Time Buyer Tax Credit
A number of first time home buyers in Southern California may also qualify for one of the down payment assistance programs in San Diego.
These programs have income (maximum) guidelines based on total household size, but they offer a pretty decent amount of money for down payments (and in some programs for closing costs). The cool thing is there are no payments until you sell the home.
Want to learn more?
Read the article I just posted on Down Payment Assistance Programs in San Diego.