Using the $8,000 Tax Credit Towards Down Payment

Posted by Paul Caparas on Wednesday, June 24th, 2009 at 1:57am.

Just a quick blog with an update on using the $8,000 Tax Credit towards the down payment or closing cost.  On May 29th, it seems HUD approved to use the Tax Credit towards down payment or closing cost but there isn't any third party who has fully implemented it into use.  So basically it can not be done yet.  One other thing to know when it will actually be available to be used is you can't use it as part of the 3.5% of the down payment.  It would be used for down payments that are higher than the 3.5%.

Once one of my team members find a third party that implemented this program, I will blog about it right away.

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