BEST ANSWER
FIRST ANSWER
The "bridge loan" for the down payment apparently exists in only a few places and probable involves a state government agency. (I have yet to hear of a home purchase closing, where a tax credit bridge loan was used.) I have 3 suggestions:
1. Borrow from your 401K and immediately after closing file an ammended 2008 tax return. This option gives you the largest choice of properties.
2. Certain HUD foreclosure properties are eligible for $100 down FHA loans.
3. Look for a home in a rural area where the propertyis eligible for a zero down Department of Agriculture (USDA) loan.
Sun Jul 12 2009, 15:08
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