THAT’S RIGHT!!  Recently I have been researching how a buyer could take advantage of the $8000 federal tax credit to use for an FHA down payment and soon it may be a reality.  On Tuesday, Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment.

 

Let me add that we are not yet able to implement this at this time however it looks like, with these changes coming soon first time home buyers could use the tax credit to do zero down up to about $225,000 on an FHA loan.

 

If you have any FHA questions please contact me.