vhda loans: Use Your $8K First Time Home Buyer Tax Credit At Closing!
- 06/08/09 12:16 PM
About a week and a half ago, there was a ruling allowing home buyers to use their First Time Home Buyer Credit (a max of $8000) toward closing costs. Today, VHDA (the Virginia Housing Development Authority) rolled out their plans implementing this program, and here are the highlights: * The buyer's primary loan must be a VHDA FHA loan. There are income limits associated with obtaining VHDA loans, but the loans are generally below market rate. The income limits are adjusted based on family size, but for a 3 person household, the maximum income is $100,000. * VHDA will basically "front" … (0 comments)
About a week and a half ago, there was a ruling allowing home buyers to use their First Time Home Buyer Credit (a max of $8000) toward closing costs. Today, VHDA (the Virginia Housing Development Authority) rolled out their plans implementing this program, and here are the highlights:
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