HUD just announced that the $8,000 tax credit may be used to help pay closing costs or be used as incremental down payment funds as long as FHA buyers still provide the minimum 3.5% funds.  The $8,000 will be provided through a bridge loan that lenders will manage.  Lenders will be responsible for developing the bridge loans.  This announcement should help more Capital District First Time Home Buyers get into a home of their dreams!!!

If you have any questions about this or any other Capital District real estate items, please feel free to give me a call at 518-281-3951 or visit my Web site at www.LewisB.com.  I look forward to helping you.