True Story- About 10 years ago, I was meeting new clients for the first time. They were a young couple, newly married and ready to buy. I set up an appointment to show an old tudor. The listing agency said no one will be home. We arrived at the home via an old wooden bridge. I opened the door with my lockbox key and we started to make our way thru the home. It was a really strange home similar to a castle. There … (7 comments)
buy a home: HUD: Tax Credit Can Be Used on Closing Costs
- 06/06/09 12:05 AM
FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.The loans can't be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday … (0 comments)
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