8,000 Tax Credit Can be Used as Downpayment
Posted By Scott Cowan on May 13, 2009
Announced on May 12th. at the NAR Real Estate Summit the Federal Housing Administration is going to allow its lenders to permit homeowners to use the Federal $8,000 Tax Credit for a downpayment.
The stated purpose of this is to help stabilize the housing market nationwide. Details are still being worked out. Check back for updates as we get them.
Make it easy on yourself. Sign up for our email updates and you will be up to date when the news is published. Buying a home this year just became realistic for more residents of the State of Washington and the entire United States!
[...] we offer to stave off the inevitable forced sales, or to provide a middle-class tax cut, or to bribe the next generation of buyers, the simple fact remains that we have more houses than we need in this country…and the people [...]
How is this possible? Do you have a website or an organization you could refer a first-time home buyer to (re: using the credit on a down payment).
Thanks,
SJ
The IRS e-flie system is now open, most W-2s and 1099s will be in mail in the next couple of weeks. Is everybody ready for tax time?