Have you heard E REALTOR NEWS said:
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.
Check out your E REALTOR NEWS for more info.
http://www.realtor.org/RMODaily.nsf/pages/News2009052901?OpenDocument&LID=RONav0019
Learn more about the credit, including how to apply for it this year even if you've already filed your taxes, at REALTOR.org.
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