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Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Tax credit use for Closing Costs?

Today the US Department of Housing and Urban Development has approved the homebuyer tax credit that will allow first time homebuyers to use the $8,000 tax credit to:
• Help cover their closing cost
• Buy down their interest rate
• Increase down payment
The first-time homebuyer tax credit was introduce to encourage homeownerships, so first-time homebuyer can take advantage of today’s housing market affordability, while the interest rates are low and home prices are down. The $8,000 tax credit does not need to repay and is fully refundable.

Income Limitation:
 Single Buyer earning between $75,000 and 95,000
 Couples earning $150,000 and 170,000
The tax credit amount will decrease as income come close to the maximum limit.
For more information go to http://www.realtor.org/RMODaily.nsf/pages/News2009052901?OpenDocument 
Source: Realtor.org
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