If you’re considering purchasing your first home, now is the time. You can take advantage of an $8,000 tax credit and even amend your 2008 returns to get that money back this year. Now there is even talk that you can use the $8,000 as your down payment with an FHA loan with an approved FHA lender. Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment. I haven’t seen anywhere that this has already started, but it should come down soon. You have to close before Dec. 1, 2009 to be eligible for this program. A quick note, if you FHA loan, you only have to pay 3.5 percent down. If you buy a home for $150,000 you are only required to pay $5,250.00 down. Use part of your $8,000.00 for your down payment and that leaves you $2,750.00 for repairs, remodeling, furniture, or whatever you need it for. Call me today and let’s start looking! Kim Craft 770-654-6656
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