Today, May 13, HUD Secretary Shaun Donovan decided to allow Buyers to use the $8,000 1st Time Buyer Tax Credit towards their downpayment on FHA-insured loans. Previously, the home buyer would have been unable to access the tax credit until they filed their next annual tax return or an amended 2008 tax return and received the refund from the IRS.
FHA only requires 3.5% downpayment and sales prices up to $346,240.
This is a much needed boost as we enter Spring and Summer selling season and should guarantee an increase in sales through the end of the year. A word of caution though- you must close by 12/1/09 in order to receive this money.
Call us now at #404-606-2219 to get a free list of foreclosures in your desired Atlanta area!

This entry was posted on Wednesday, May 13th, 2009 at 4:19 pm and is filed under $8000 tax credit, Buyer Services. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.