Can I use the 8000.00 first time homebuyers credit toward my closing costs? If so, can I put the whol 8000.00 toward closing?
Answers (3)
The Pennsylvania Housing Finance Agency was providing "bridge loans" assisting 1st time homebuyers in monetizing a portion of the $8,000 tax credit to be utilized towards the purchase of a property. Unfortunately, the agency no longer has the funding available to provide this interim financing. There are however a few other options that may be of assistance and the link has been included below for your reference.
Web Reference: http://www.phfa.org/consumers/homebuyers/loans.aspx
You can do this and it is done in the form of a loan.
FIRST ANSWER
There are provisions in Pennsylvania for closing costs or downpayment - with an FHA based loan.
You should consult with an experienced FHA lender, or the Pennsylvania Housing Finance Agency.
Web Reference: http://www.subphillyhomes.com/NEW_Tax_Credit_EXTENSION/...
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