With this new change to the stimulus package, many more first time home buyers can actually close!! FHA has approved the use of the stimulus money at the closing table. First time home buyers that qualify would still need to come up with 3.5% of their own money, but this will help them with the closing costs. With appraisals being very cautious, this will help those that were previously rolling in the closing cost to be able to pay them right away instead of financing them into the mortgage.
For more information see the full document. http://onlineoffice.coldwellbankerprime.com/PublicStorage.c?ID=f612e01b-f1be-4729-904b-0f51d57d8c12