$8000 government tax credit to be allowed as downpayment assistance on fha insured mortgages
In what could be a huge boost to the housing market, HUD Secretary Shaun Donovan’s has decided to allow florida mortgage company to use the $8,000 government tax credit to help cover their down payment and closing costs on Government Insured FHA loans. One of the biggest challenges for first time home buyer is saving up enough money for a downpayment on their home. The FHA program in particular requires the borrower to come to closing with 3.5% of the purchase price as their downpayment. O
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Tags: Borrower, Buyer, Credit, Government, Home, Loan, Money, Mortgage, Mortgages, UK