$8,000 First Time Homebuyer Credit

$8,000 First Time Homebuyer Credit can Now Be Used as Down Payment on FHA Loans
Aloha Everyone!

Here is some good news for first time homebuyers that want to take advantage of  the historically low rates and very soft sellers.

According to Rob Chrisman’s blog http://www.robchrisman.com/ ,

“Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the FHA is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment.” “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan said. This will allow eligible home buyers to access the funds immediately at the closing table.

What does that mean?  Basically, first time homebuyers may have an easier time qualifying for the loan and have less money out of pocket.

If you know anyone that is interested or would like to learn more, please have them contact us.

Thanks.

-Jeff Orig, RA

jefforig@hawaiirealestatereport.com

808-561-1651 (mobile)