What happened Friday? New guidelines from the FHA on how to Use First-Time Homebuyer Tax Cuts at closing.
Interested? Go to http://tiny.cc/1NVoM and read letter directly from the FHA website.
Bottom line: First time home buyers who work with FHA approved lenders can get a bridge loan so they can apply their tax credit to reducing the loan.
Expectation: First time home buyers will be able to pay more for properties.
Thanks to Shawn Watkins at Investors Workshops for the heads up.