Real estate blog entries tagged with homebuyer tax credits by Illinois Financial Advisor Greg Zaccagni (Farmers Insurance)

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Home : Blogs : Illinois Financial Advisor Greg Zaccagni : Greg 's Blog : Tag "homebuyer tax credits"

homebuyer tax credits: Homebuyer Tax Credit Redefined - 05/29/09 09:53 PM

The FHA appeard to be allowing homebuyers to use income tax credits for their entire 3.5% down payment but concerns this too closely resembled seller paid down payment assistance cause them to re-define this program.
Borrowers applying for an FHA loan will still be required to come up with a minimum 3.5 percent down payment, but will be able to use the tax credit for additional down payment or for other closing costs.
"Unlike seller-funded down-payment assistance, this program will allow homebuyers to shop for the best home price and services using their anticipated tax credit," HUD Secretary Shaun Donovan said in a statement.
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Illinois Financial Advisor Greg Zaccagni

Wheaton, IL

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