Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment, provided you are using personal funds for the first 3.5% of the downpayment.

Donovan’s statement came in an address to several thousand Realtors® gathered at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors® Midyear Legislative Meetings & Trade Expo in Washington D.C.

If you’ve been looking at buying your first home, but the down-payment requirements have kept you from doing so, then this might be your chance to take advantage of a fantastic change in FHA policy.  Feel free to give me a call to find out more information or ask questions about how to take advantage of this program!

~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell

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