HUD has recently approved the use of the $8,000 tax credit for the purchase of a new home. Currently a buyer must purchase a home and then apply for the tax credit through their tax returns. However, with the new rule our qualifed buyers will be able to use the money for their down payment, closing costs, and prepaids. The program will be facilitated through The Texas Department of Housing and Community Affairs (TDHCA). TDHCA just released a letter acknowledging the new rule. As of yet, they have not implented the program. We do not have a definite timeframe when they will have it ready. I will email you as soon as I get word and with their guidelines. Please contact me with any questions.
Respectfully,
Bob Knoll
SWBC Mortgage Corp.
Denton TX Real Estate www.TXCloudRealty.com (469) 300-1109 Cloud Realty, 5-star service!
2 comments:
Hopefully these incentives will motivate real estate investors.
The new extention and the additional non first time buyer I think will continue to help.
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