I have a first time home buyer. They have their 3.5% down payment for FHA. They want to be able to use the $8,000 tax credit to increase their down payment. Their mortgage broker is not able to find a lender who will advance them the credit.
Has anyone had experiance with this that could give us some advice.
Can someone help me with this? I thought the $8,000 dollar tax credit was actually a percentage of the loan amount Up TO $8,000?
The only way we have gotten this done is if the buyer qualifies to get a 8K personal loan. They pay it off upon getting there tax credit. I don't know of any lenders advancing the credit.
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