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Real Estate & Property Law

: Housing Wire

HUD Details Use of Tax Credit toward Closing Costs

By DIANA GOLOBAY

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New details about the use of the $8,000 first-time home buyer tax credit to obtain a government-insured mortgage reveal the advanced funds may be applied toward the down payment only after the borrower meets the minimum 3.5% of the house’s appraised value. The US Department of Housing and Urban Development (HUD) secretary Shaun Donovan today announced [...]

Full post as published by Housing Wire on May 29, 2009 (boomark / email).

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