FHA Approves Ability to Use The $8000 Stimulus Credit At Closing Table

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

 

Kayel Buffaline

Kayel Buffaline

Licensed Associate Real Estate Broker
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