Hud has updated the rules for using the Tax Credit and allowing the credit to be used towards closing costs.

Here is an excerpt from the article:

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.

You can read the full HUD article here.

This is excellent news for first time home buyers everywhere.  If you’ve been considering purchasing a home now is the time.  Prices are the lowest they have been in years and the selection is quite good.

If you are not sure if qualify for a home loan, contact me directly and I’ll assist you in obtaining lender information on how to get you fully qualified for purchasing a new home.

For additional information on the Tax Credit, contact me directly…

Jennifer Mackay
jenniferim@jennifermackay.com
850-774-6582
www.jennifermackay.com

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