YES, it's true first time buyers, as I have stressed before, WHAT ARE YOU WAITING FOR?Now that $8000 tax credit given to you by our Obama administration (The American Recovery and Reinvestment Act of 2009) can now be applied to your closing costs!
FHA approved lenders can now develop bridge loans under the guidance of the U.S. Department of Housing and Urban Development that first time homebuyers can use toward:
CLOSING COSTS
BUY DOWN INTEREST RATE
INCREASE DOWNPAYMENT
Keep in mind that you would still need to come up with the 3.5 percent down needed, however there are many sources out there to help you with that downpayment. Some states have developed their own tax credit bridge loan programs giving buyers the tax credit upfront to cover all or part of their downpayment.
Contact me for more info:
SEE YOU AROUND THE NEIGHBORHOOD!!!
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