Jun 7th, 2009 - Los Angeles Times
Reporting from Washington -- The Obama administration has put out the official word: Starting soon, first-time home buyers nationwide will be able to turn their $8,000 federal tax credits into cash for use at closing if they use Federal Housing Administration mortgage financing.
But in its final guidelines to lenders and buyers issued May 29, the Department of Housing and Urban Development clarified that buyers obtaining FHA loans through private lenders would have to invest at least some of their own funds -- whether from personal savings or gifts from relatives -- in the form of a minimum 3.5% down payment.
Related stories:
FHA Adds Down-Payment Options to Housing Credit
May 29th, 2009 - Washington Post
First-time home buyers can now use a federal tax credit worth up to $8,000 to help cover a down payment and other upfront costs if they are taking out a loan backed by the Federal Housing Administration.
Thud From HUD
May 29th, 2009 - Forbes
It was too good to be true: The government will not be offering no-down-payment loans. Housing and Urban Development Secretary Shaun Donovan announced Friday that the...
FHA Policy On Tax Credit More Limited Than Expected
May 29th, 2009 - Wall Street Journal
(Updates with comment from National Council of State Housing Agencies in 19th and 20th paragraphs.) WASHINGTON (Dow Jones)--U.S. housing officials rolled out the details...
New FHA Policy On $8K Tax Credit More Limited Than Expected
May 29th, 2009 - Wall Street Journal
WASHINGTON (Dow Jones)--U.S. housing officials rolled out the details of a plan to allow borrowers who use Federal Housing Administration financing to apply a federal home buyer tax credit toward a home purchase.
HUD: Stimulus tax credit can be used on first-home purchase
May 29th, 2009 - bizjournals
First-time homebuyers can apply their tax credit of up to $8,000 under the federal stimulus program toward the purchase of an FHA-insured home through short-term loans, U.S...
Related videos from YouTube:
3:26The Extended Home Buyer Tax Credit | WAHomeowners.com
Follow the adventures of Bob and Sally as the learn about the now extended Home Buyer Tax Credit worth up to $8000 for first time buyers and $6500 for existing home owners..
7:25Federal Housing Tax Credit explained
Congress Enacts Bigger and Better Home Buyer Tax Credit A tax credit of up to $8000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009 ...
1:44RE/MAX and the 2009-2010 Homebuyer Tax Credit
RE/MAX Chief Executive Officer, Margaret Kelly, talks about the government's extension/expansion of the first-time homebuyer tax credit. Certain existing homeowners can now qualify for the credit and homebuyers have until April 30, 2010 to put a contract on a house ...
3:55This Month In Real Estate: 2009 First Time Home Buyer Tax Credit Special Edition
Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation.
