Profile picture for twilighgj33

my question is im looking to buy my frist home but looking for the free money to get the down paymen

can you help me fined the web site about this tax credit so i can apply. twilightj33@gmail.com
  • July 14 2009 - Pinellas Park
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Answers (5)

Profile picture for mammaamy
You MUST have your 3.5% period for an FHA. But you can add to that with the tax credit, and in some states, Ohio for example there are programs to assist, Ohio has Ohfa which will contribute 3%, but you have to have that 3.5% sitting around, get the loan then apply for the 2nd(ohfa) which will pay 3% so you don't have to spend all of the funds you had saved for the 3.5%-
make sense?
On fha.com they list many down payment assistance programs, all of them are null and void.
If you go to HUD.GOV and go to the buying section, they will forward you to your specific states programs.
  • July 16 2009
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If you don;t have money for a DP or at least the closing costs, you have no business owning a home! 
  • July 14 2009
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You have probably gotten some misinformation, a lot of people have been posting the wrong information on the internet. I always go straight to the source, the irs handles taxes, here is what they say about the credit: http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet=6 
here is the form to file: http://www.irs.gov/pub/irs-pdf/f5405.pdf 
  • July 14 2009
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Profile picture for wetdawgs
The tax credit is designed to be applied for after purchasing the home.   There are some programs where you can get an advance on the credit as part of the down payment but it must be above and beyond the 3.5% down payment required by FHA loans.  

Mortgage lenders will be able to help you find possibilities.
  • July 14 2009
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Hello...

Start here:  http://www.hud.gov/

Or talk with a Mortgage Lender.

Happy Home Hunting!!!

Sincerely,
Petra Blomgren
  • July 14 2009
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