First Time Homebuiyer's Tax Credit -CLOSING COSTS

The first-time homebuyer tax credit can be used to pay closing costs or an additional amount over the required 3.5% down on an FHA loan. HUD has strict guidance and regulations on this so you must contact your lender for direction as to how the loan from the tax credit would be repaid and when. Using the tax credit for this purpose is done through what is considered to be a bridge loan or personal loan. For more information on the $8,000 tax credit uses in Arizona, contact Andrew Walsh or Marie Zubkoff for our recommendation of lenders and to ultimately purchase your property here in the valley of the sun.