Real estate blog entries tagged with when to use first time tax credit on an fha loan by Pacita Dimacali - ePRO, SRES, CDPE, MBA Alain Pinel in Alameda County CA (Alain Pinel)

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Home : Blogs : Pacita Dimacali - ePRO, SRES, CDPE, MBA Alain Pinel in Alameda County CA : Pacita's Quick Bytes of Real Estate : Tag "when to use first time tax credit on an fha loan"

when to use first time tax credit on an fha loan: "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)

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

Oakland, CA

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Alain Pinel

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