$8,000 Tax Rebate
Don't Have Enough Money to Put Down on a House? No Problem! Reported by the Wall Street Journal, May 29, 2009
Until now, home buyers were only able to receive the money after they bought a home, by applying for the credit-10% of the home's price up to $8,000-on their tax returns. But now you can have the money upfront!
A few important notes:
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This is only for FHA loans, which require a minimum 3.5% down payment.
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Borrowers must first come up with the minimum themselves. The bridge loan would cover a lerger down payment.
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Borrowers can still use loans from certain non-profits and state and local housing finance agencies to fund the 3.5% down payment.
Participants are screened carefully to ensure they are occupants with documents income and sound credit. Prices are scrutinized to avoid overpayment, buyers undergo education and the loan of choice is a 30-year fixed mortgage, not adjustable-rate loans that reset with crippling payments.
This is truly a first-time (any one that has not own a home in the last 3 years) home buyers chance to finally own a home, interest rates are low, home prices are the lowest in years!
Questions? Just contact me!
Jean DuBoise Metz
925.876.9735
