$8,000 Tax Credit for down payment
In 2009 first time home buyers qualify for a $8,000 tax credit but what can it be used for? With recent changes from the department of Hud the 1st time home buyer can use the $8,000 towards closing costs, prepaids or down payment above the orginal 3.5% down payment that FHA requires.
Typically buyers will receive their $8,000 tax credit on their 2009 tax returns filed in 2010 but some buyers can redo their 2008 tax return filed in 2009 to receive their money earlier.
To find out more about the tax credit and to see how you can use your’s visit.
www.northernillinoismortgagepros.com
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