Springfield, Ill. — First-time homebuyers can now take advantage of a Federal Housing Administration program to allow qualified homebuyers to apply the $8,000 tax credit when purchasing a home. New changes to the federal tax credit will allow buyers to use that money at the front end, as part of their down payment at the time of closing rather than waiting for their tax refund.
Details of the modifications are outlined in a mortgagee letter on the HUD Web site at:
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