FHA To Allow Tax Credit To Work As Downpayment

May 12, 2009 by Eleanor 1 Comment

FHA announced during a summit in Washington that they will shortly be allowing the Tax Credit for First Time Homebuyers to be used as downpayment!

THIS IS HUGE!

There are few details available about how they will execute this, but here’s a link to the information I was able to find:

http://www.realtor.org/RMODaily.nsf/pages/News2009051202?OpenDocument

Filed Under: FHA Mortgage Loans, First Time Home Buyer, Housing News Tagged With: credit, downpayment, FHA Mortgage Loans, tax

About Eleanor

I see myself differently than most loan officers in the Cary/Raleigh market. As a rare Cary native, I see myself as an expert on the area, on mortgage industry changes & factors that effect rates! I've lived in Cary since 1968 - and I'm second generation "mortgage." I work with my husband, Steve Thorne Mortgage Loan Originator #60596 Equal Housing Lender More About Me