Tax Credit as FHA Down Payment
Uploaded on May 13, 2009 / 80 views / 235 impressions / 0 comments
Description
That is incorrect, sort of. The tax credit cannot directly be used as down payment.
Specific HUD approved agencies may loan the money to the buyers as a second lien to the buyer. HUD approved lenders, like my Novation Mortgage, may offer a bridge...
That is incorrect, sort of. The tax credit cannot directly be used as down payment.
Specific HUD approved agencies may loan the money to the buyers as a second lien to the buyer. HUD approved lenders, like my Novation Mortgage, may offer a bridge second with no lien against the property in anticipation of the return of the funds at the time of the dispensation of the tax credit.
