Shaun Donova, secretary of the US Department of Housing and Urban Development (HUD) said that the Federal Housing Administration is going to permit it 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.
Donova 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.
Are you eligible for the $8,000 tax credit? Give me a call, 704-763-9117, or send me an email at KimDowns@urbanrealtync.com, and we can work together to find out!
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