FHA Buyer's Assistance Program is Approved
It was announced last week that the Federal Housing Administration (FHA) will allow the Obama Administration's $8,000 first-time buyer's tax credit to be used toward the downpayment on a first-time home purchase. Originally, the tax credit could only be received after filing tax returns the year after the first-time home purchase. Now, home buyers using FHA approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closng costs, which can help achieve a lower interest rate. To read more about this program visit: http://www.cherylclayton.com/FHA_Buyers_Assistance/page_2238520.html