$8,000 cash for a down payment now!
It seems like everyone is talking about how it is a buyer’s market. Across the Internet and through the media, you hear about how home prices have fallen. The time to buy is now, they say. But maybe you can’t. Maybe you don’t have the cash for a down payment.
The U.S. Department of Housing and Urban Development is working to give people like you $8,000 fast cash toward a first-time home purchase.
The program is a key revision to a measure Congress created as part of the stimulus package. It gives first-time homebuyers an $8,000 tax credit, hoping to prompt wary buyers to commit to a purchase. The problem is, the credit comes at tax time, too late to help homebuyers close on an opportunity that may arise before then.
HUD’s plan would alter this, so first-time homebuyers can get the cash they need when they need it. Its goal is to make the money available when buyers close on their home loans.
Department officials are still working on the details. But should the program come through, it could give you the cash you need to buy now.
It’s not too early to start looking for a home where you could invest that money. The more prepared you are, the better deal you will likely secure if and when HUD approves the program. Here at Damelecia, we have a variety of properties to browse through. Sign up to receive free listings below.
June 4th, 2009 at 8:05 am
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July 30th, 2009 at 12:45 am
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