FHA Mortgage and Tax Credit Update

This story has been floating around for a few weeks, now its a reality! The federal tax credit of $8,000.00 for first time buyers can be used to pay for closing costs or to augment their down payment immediatly at the close of escrow instead of waiting for the credit on next years taxes.   I’ve included a full article on this new great program at the link below.  Its another reason to look into buying NOW!
http://money.cnn.com/2009/05/29/real_estate/tax_credit_as_downpayment/index.htm?postversion=2009060109

Be on the watch for interest rates raising as well, the last few weeks haven’t been kind to the 5% loan, but I have some great lenders that I work with and we’ll help clients get the best rate possible!