FHA $8,000 Tax Credit Down Payment Assistance

I don't usually like to post more than once a week but I know there is some interest in this program.
The FHA has just passed the bill that would allow first time home buyers to have the ability to use the $8,000 tax credit for the 3.5% down payment. There are various restrictions that apply and the actual approved FHA mortgagees still have to determine how they will implement the program. There are still some ambiguous areas that have to be ironed out as to who will actually loan the money and what the terms might be. We don't know exactly when this will become fully integrated but it does look like it will really become available at some point.

We will update as more information becomes available.

Stay tuned