Hud fumbles the deal for 1st Time Homebuyers

Homebuyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA’s new mortgagee letter, visit HUD’s website.This means that 1st time homebuyers still need 3.5% for down payment. If you’re in Central Ohio I can help. I have programs available to monotize the Stimulus from the State of Ohio.

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