How To Use Tax Credit For Home Buying Expenses

Posted by Hartanov Team on Friday, July 3rd, 2009 at 8:10am.

Until recently, the $8000 first-time home buyer tax credit could only be accessed when you filed your tax return. The Federal Housing Administration has changed this be adding another component to the temporary $8,000 first-time home buyer tax credit. Qualified FHA buyers now have the option of monetizing the funds.

Through short-term bridge loans, buyers can access the money immediately instead of amending their 2008 tax return or waiting to file in 2009.

These buyers then have the option of adding it to their FHA-required 3.5 percent down payment, covering closing costs or buying down their interest rate. Instead of having the money after the fact, you can now use the tax credit to help you buy a home.

Interested in learning more. Visit GuideToLocalRealEstate.com or give me a call. I'm glad to answer all your quesitons and help you purchase your dream home!

The Hartanov Team is a Professional, Experienced and Results Oriented, Top Orange County Real Estate Team committed to meeting your needs. We use the latest technology to dramatically improve the speed, efficiency and innovative capabilities of every part of the service we deliver. We specialize in offering a new level of service helping people buy and/or sell Orange County area homes, condos, Short Sales, REO and Bank Owned, investment properties and 1031 exchanges, including relocation assistance for buyers who are becoming new residents of the beautiful ocean front region of Orange County. For more infomation about buying or selling your Orange County home, please call us direct at 949.481.3739 or via email at contact The Hartanov Team.

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