Zillow Advice: Home Buying - tax credit

It is a Tax Credit however ...

Wed, 01 Jul 2009 16:34:00 GMT

It is a Tax Credit however you can use the money at closing, to increase your down, pay for closing costs or buy down the interest rate. How can you "apply" a tax credit (received by you when you file) to a closing today? Recent rulings are allowing FHA lenders to monetize the Tax Credit at closing via a bridge loan. If you are interested you need to talk to your lender. Hope this helps.

The best place to get the ...

Wed, 01 Jul 2009 16:00:00 GMT

The best place to get the full details is on the irs website. You are right, there are dozens of inaccurate rumors floating around the internet.

In most cases it is a tax ...

Wed, 01 Jul 2009 14:15:00 GMT

In most cases it is a tax credit. If your tax bill is less than the 8k then you will receive a check for the balance.

http://www.irs.gov/newsroom/article/0,,id=206291,00.html