First Time Homebuyers-Fed's Rescind 8000 Tax Credit For Down Payment

  Earlier this week the Secretary of Housing and Urban Development , Shaun Donovan, announced that the $8,000 Federal tax credit could be used as a down payment for FHA borrowers, this may no longer be the case. The letter with program details has been removed from the HUD website. The program has essentially been pulled as of now, but nothing has been officially released as to the programs future. So, as it stands now, it appears as if the Federal tax credit can no longer be used as a down payment. Hopefully this program or something similar will become available for first-time homebuyers.

-Emily Schuyler

Smart Click Realty

DRE# 01768964