Home Buying in Reseda>Question Details

Jose, Home Buyer in Reseda, CA

can I used the 8k that the goverment is providing as part of downpayment.?

Asked by Jose, Reseda, CA Thu Dec 17, 2009

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Ted Canto - The Mobile Mortgage Pro’s answer

These so-called programs are few if not available. I haven't heard one source stating they can actually do this. My answer is simply: You can't find a place that would lend you the money. The simple thing to do is get a gift from a family member and pay them back the gift if you choose to, when you get the tax credit money in the mail.
0 votes Thank Flag Link Thu Dec 17, 2009
Jose, follow this link for useful information:
0 votes Thank Flag Link Thu Dec 17, 2009
Hi Jose,
You can use up to a maximum of $5,000 of the $8,000 tax credit in something that is call "pre-fund" at closing. Ask your loan officer if you qualify for other programs as the Smart Start and others.
Good Luck,
Web Reference: http://www.inesdelacruz.com
0 votes Thank Flag Link Thu Dec 17, 2009
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