$8,000 Tax Credit Soon Can be Used as Downpayment!

Homebuyer Tax Credit Loans may be available soon to use as a down payment on a home.

The Federal Government is working on a plan that will allow eligible borrowers to use the first-time homebuyer tax credit as a downpayment.

The proposal is that State agencies and other HUD-approved lenders would be able to provide short-term loans to qualified buyers as a "bridge loan" to use as the down payment for a first-time home. This loan would then be repaid over time by the borrower.

Parameters for the loans and their repayment are under discussion now and details are expected to be reported soon.


This will be a wonderful opportunity for First Time Buyers to be able to step up their ability and timing to buy to make use of the $8,000 Tax Credit before it expires in December, 2009.

Stay in touch for more information and once it is available, don't hesitate, but get with your Lender and Realtor right away to make it happen - it is a limited time offer!

Sue Ellett, Paragon Property Group - Coldwell Banker United, Realtors 512-422-7182