Hi Steve,

If you're a first time homebuyer, you can get 10% of the sale price (up to $8k) back when you file or amend your tax return. This money doesn't have to be repaid and if you've already filed you can file an amended return to get the cash quicker. You can't have owned a house within the past 3 years (and I believe there are some exceptions in divorce situations) to get the money. You can't get the money in advance so you'll still need at least 3.5% of the purchase price to get a mortgage.

Hope this helps.

Alma
Alma Rose Kee, P.A.
Charles Rutenberg Realty, Inc. http://www.SoldOnTampa.com

Have you explored looking into going back to school (while continuing to work) and getting a student loan? It may be a way to get the money to pay off the credit card balance and have a lower interest rate and part of it deferred. Also 401(k)s will allow you to borrow money from your account.

Steve,
what are you thoughts and ideas behing wanting to add credit card debt into a home purchase? what price range are you looking at?

you need 3-4 open active ontime tradelines (creditors - good paying accounts) over the last 12 months. They can be non-traditional trades like cancelled rent checks, car insurance, cell phone payments, utilitiy bills etc, to qualify for FHA. they also keep hiking their minimum credit score requirements...... Lower scores (minimum 500) are required to have a manual underwrite.

Steve, Take your downpayment of your home and pay off the $13k. Get qualified for an FHA Loan (3% down) which will allow up to 6% back toward closing costs. We can also ask for a contribution to the down payment through a program called Nehmiah. We need to know more about credit ratings and what size loan you can qualify for....
Mark@Homes4UinTampa.com