North Bay Real Estate Blog

  

  May 29, 2009    

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

The loans can't be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.


   http://www.realtor.org/RMODaily.nsf/pages/News2009052901?

Posted by on June 1st, 2009 10:41 AM
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