HUD Action Allows Home Buyers to Use $8,000 Tax Credit for Downpayments on FHA-Insured Loans

摘要

HUD Secretary Shaun Donovan has decided to allow consumers to use the $8,000 first-time home buyer tax credit to help cover their downpayment and closing costs on FHA-insured mortgages, according to the National Association of Home Builders (NAHB).rnThe measures announced by HUD would allow FHA-ap-proved lenders, federal, state and local government agencies and FHA-approved non-profit organizations to supply home buyers short-term or 'bridge loans' up to the amount of the $8,000 first-time home buyer tax credit.