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first time buyer tax credit: "Can I use the first time buyer tax credit as my down payment?" - 07/15/09 02:32 AM
This question gets asked over and over again. And the answer is, "It depends."  This seems like the right time to reiterate that real estate is local.
GENERAL INFO
Buyers have to qualify for that tax credit that equals 10% of purchase price, or UP TO $8,000. On FHA loans, the tax credit can be be PART of, but not THE down payment. See: Who/Where/How/What/When to use the $8,000 first time buyer tax credit with an FHA loan EXCEPTIONS
But.....but.....yes, there are exceptions ... some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose … (4 comments)

first time buyer tax credit: First time home buyer tax credit. Homes bought on/after 4/9/08 - 7/1/09 are eligible - 08/04/08 03:33 AM
In case you missed it, it's worth sharing again: the new First Time Home Buyer Tax Credit. If you're looking for reasons and benefits to share with your first time home buyers, this may help. http://www.federalhousingtaxcredit.com/
Opportunity of a Lifetime for First-Time Buyers For aspiring home owners who find their goal stubbornly elusive, newly enacted legislation providing a tax credit of as much as $7,500 for first-time home buyers might just be the opportunity of a lifetime. But like so many of the good things in life, time is of the essence for buyers who want to take advantage of this outstanding … (1 comments)

 
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Pacita Dimacali - ePRO, SRES, CDPE, MBA Alain Pinel in Alameda County CA

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