The House Appropriations Committee approved an extension of the $729,750 loan limits for Fannie Mae, Freddie Mac, and Federal Housing Administration financing in high-cost areas through September 2010. Without this extension, the loan limits revert at the end of the year to $417,000 in the highest-cost areas. The spending bill also would extend FHA’s Home [...]
Posts Tagged as ‘FHA’
June 3, 2009
Monetizing the First Time Home Buyer Tax Credit to pay for closing costs
The Federal Housing Administration had previously announced in early May that First Time Home Buyers would be able to use the (up to) $8,000 tax credit towards the down payment or closing costs of their new home purchase for FHA loans. Later the government revised their position and it looked like First Time Home Buyers [...]
