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$8000 Tax Credit Bridge Loans?

The $8000 Dollar Tax credit that is available to first time buyers until Dec. 1, 2009 is a great thing... but many of us have asked how does that help people BUY a house right now?

Well, many states are helping us out with that! Colorado, Tennessee, Pennsylvania, Ohio, New Mexica, New Jersey, Delaware, and Idaho have set up short term loans through their housing finance agencies (HFA's) to make that credit available at closing. This will help many borrowers with closing costs and down payment, and could do more to stimulate our housing market than many of the programs that are being discussed.

Florida needs a program like this!

Best Regards, Melissa Tolson, GRI - Buyer's Specialist, The Landry Team

Posted by Liz Landry on 04/20/2009 11:31 AM

Comments (2)

First Time Buyer Tax Credit in the Real Estate Market Channel

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2 Comments on $8000 Tax Credit Bridge Loans?

APR

That's cool. I wish they had that here in Texas. Are you allowed to borrow that money if it is an FHA or VA loan. I thought that you couldn't or does it depend on the underwriters?

Thanks,

Joe

APR

thanks for the info-we all need to contact our state representatives.

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