Realtor.org publishes article on announcement from HUD Secretary of new and important changes! In efforts to further stabilize the economy, this change will allow buyers to access the, up to $8000 tax credit, funds immediately at the closing table.
Read the full article Here
Martin Matsumura of Select Lending made a insightful comment that ‘without a doubt, it will take some time for the lenders to digest this information and figure out how to underwrite the files, update their software systems and train their staff.’ However, the process is in motion and updates will be coming.
This means not only will First Time Home buyers have a $8000 tax incentive, low interest rates, plenty of inventory to choose from and excellent prices… That $8000 may just cover your 3.5% down payment on a FHA loan!
