The 2009 Tax Credit Bridge Loan

By
Real Estate Agent with Capital City Realty

The 2009 tax credit can be used to help pay closing costs on a home loan. This can be done by through a bridge loan that will be repaid either monthly or when you file your taxes. The bridge loan can help with closing costs up to 10% of the home sale price with a maximum of $8,000. The bridge loan cannot pay the FHA mandatory 3.5% down payment. The FHA mandatory 3.5% down payment must come from the buyer or it can be gift funds. A seller cannot pay the 3.5% FHA down payment.

Lake Murray Real Estate

Lexington SC Real Estate

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Topic:
Lending / Financial
Tags:
2009 tax credit
first time home buyers
closing costs assistance

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