Maluskills
New Member
Hi everyone,
I have heard that the $8000 first time homebuyer credit that the government passed (for first time homebuyers in contract by 12/1/09) could potentially be received at the time of closing to help with closing costs. Does anyone have other information they can help me with here to further understand this?
I understand that at the very least, the buyer has to front the 3.5% minimum down payment, and that the $8000 cannot go towards that (We have 10% down, so this piece is not a problem), but not sure I understand how we actually get the money at the time of closing, since I wouldn't normally receive it until I filed my taxes early next year?
To see the announcement from the HUD, google: HUD No. 09-072
(since i cannot post links)
Please help!!!!!
I have heard that the $8000 first time homebuyer credit that the government passed (for first time homebuyers in contract by 12/1/09) could potentially be received at the time of closing to help with closing costs. Does anyone have other information they can help me with here to further understand this?
I understand that at the very least, the buyer has to front the 3.5% minimum down payment, and that the $8000 cannot go towards that (We have 10% down, so this piece is not a problem), but not sure I understand how we actually get the money at the time of closing, since I wouldn't normally receive it until I filed my taxes early next year?
To see the announcement from the HUD, google: HUD No. 09-072
(since i cannot post links)
Please help!!!!!
