HUD just announced that the $8,000 tax credit may be used to help pay closing costs or be used as incremental down payment funds as long as FHA buyers still provide the minimum 3.5% funds. The $8,000 will be provided through a bridge loan that lenders will manage. Lenders will be responsible for developing the bridge loans. This announcement should help more Capital District First Time Home Buyers get into a home of their dreams!!!
If you have any questions about this or any other Capital District real estate items, please feel free to give me a call at 518-281-3951 or visit my Web site at www.LewisB.com. I look forward to helping you.
Serving Raleigh NC and the Greater Triangle Region
Lewis Beynon, Broker
Norris Team of Century 21 Triangle Group