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Colorado Springs Real Estate Brokerage : Jeremy Isaac, Realtor

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Update on using the $8,000 tax credit as a down payment

Published May 14, 2009 by Carrie

Yesterday, it was announced that the Federal Housing Administration was going to allow homebuyers to use the $8,000 first-time home buyer’s tax credit as part of a down payment through a short-term bridge loan.  Almost as quickly as it was announced, however, the Office of Management and Budget placed at least a temporary hold on the plan.

So, at least for now, you can’t plan on using the $8,000 tax credit as part of your down payment on an FHA loan – hopefully we’ll have more of an update soon.

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jeremy@circagroup.com

11508 Shaugnessy Rd.
Colorado Springs, CO 80908

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