 FHA PLANS TO ALLOW USE OF TAX CREDIT FOR DOWN PAYMENT. Are you contemplating an FHA loan? Now might be a great time to talk to your mortgage professional about FHA Mortgages! It was recently announced: home buyers will be able to use federal $8000 first-time home buyer tax credit for down payments on FHA loans.
At a press conference, Shaun Donovan, the US Housing & Urban Development secretary announced that FHA will allow approved lenders and nonprofits, state and local government agencies to issue short-term bridge loans buyers can use for down payments. The buyer would then repay the loans after getting their tax refunds. Donovan continued by telling the media that the details on the new program will be released soon.
By allowing the use of tax credit dollars for down payment, this program will basically become a kin to the former down payment assistance programs. Speak to a member of Summit Mortgage Corporation today to learn more!
Let Summit Mortgage Corporation and our team of experienced professionals show you how you can benefit from the opportunities that exist. Stop by our branches in Bend and Redmond Oregon or call us to find out how you can Experience Relationship Lending today.
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