The government is understanding that the housing industry is really critical to this country's economic recovery. In an effort to help get the housing market moving, HUD Secretary Shaun Donovan has announced an even better deal for first time home buyers. Remember: if you haven't owned a home in 3 years than you also qualify for this program as a new home buyer!
Monetizing the tax credit means that the funds can now be used towards a down payment or towards closing costs. Under the new FHA rule, home buyers who are using FHA approved lenders, can apply the $8,000 tax credit to a downpayment beyond the 3.5% minimum required on an FHA insured mortgage or to their closing costs.
Check with your lender to see how this will help you with a new home purchase.
As you search the market for the perfect home, remember that we can help you with your search. As remodelors with over 30 years experience, Grand Bay Builders will be happy to meet with you at the home to discuss the feasibility of any future remodeling that you may consider after your purchase. We offer this consultation so you can be more confident in the future potential of your home purchase. We want you to know what is possible before you make the purchase!
Call me for details or to schedule a walk through- Nancy Lisabeth 231 995 9057
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