$8,000 Tax Credit Can Be Used for Down Payment!!
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, reported on Tuesday, May 12 that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.
He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
For more information about the First Time Home Buyer Tax Credit Click Here
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