Home Buying in 77041>Question Details

Zoe, Home Buyer in Houston, TX

Can I get the $7500 federal tax credit if I have conventional loan instead of FHA loan?

Asked by Zoe, Houston, TX Tue Dec 30, 2008

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There are no loan restrictions.... But there are other restriction, like income limits.http://www.federalhousingtaxcredit.com/faq.php#6
Details at the above FAQ
1 vote Thank Flag Link Wed Dec 31, 2008
Zoe:
The $7,500 first time home buyers tax credit does not have a specific loan stipulation. In fact, if you wanted or were able to pay cash for the home, you could still qualify for the tax credit. There are other qualifications that need to be met in order to qualify for the tax credit but method of payment or loan type is not among them.

Jill Wente
Web Reference: http://www.jillwente.com
1 vote Thank Flag Link Wed Dec 31, 2008
According to the official site it looks like any loan as long as you qualify.
Here is the link.
Let me know what you think.
J.
http://www.federalhousingtaxcredit.com
1 vote Thank Flag Link Tue Dec 30, 2008
Ask your mortgage broker who has possession of your financial records. They are your best resource determine what incentives you can or cant receive
Web Reference: http://www.lynn911.com
1 vote Thank Flag Link Tue Dec 30, 2008
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