TAX CREDIT CAN BE USED FOR DOWN PAYMENT
"Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said 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.
Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.
“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says.
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."
Let me know if you need more info, details or have questions...405-812-1572
also here is a link to help you search for new homes in Yukon or Mustang, OK: www.Okla-OK.com
With smiles,
Bo
Bo in Yukon
Experience isn't expensive, it's PRICELESS!
