More great news for first time home buyers!
According to the National Association of Realtors, the US Department of Housing and Urban Development will soon be permitting FHA approved lenders to use the $8,000 tax credit as down payment. Home buyers will be allowed to “monetize” the tax credit through short term bridge loans and can access the funds immediately at the closing table. Official details on the HUD’s initiative are scheduled to be released next week.
The Jana Caudill Team will keep you informed of any new developments in the real estate market.