How to use the Tax Credit for Up Front Costs
By now most of our readers have heard us talk about the $8,000 Federal Housing Tax Credit, as well as the FHA announcement that will allow the $8,000 to be used to pay for up front costs. But exactly how is that all going to work? This NAHB article answers those questions. There is also a helpful PDF from them that is available for download. The new FHA monetization program is expected to result in an additional 40,000 home sales, many of which will be made to trade-up buyers who have been able to sell their existing home to a first-timer.
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