Credit available to first-time home buyers - Phoenix Business Journal:

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Under the American Recoverh and Reinvestment Act of citizens may qualify for the tax credit for purchasingf their first home after filing their But under anew program, state housing finance agencies and nonprofitss can advance money to home buyers up to the full amount of the tax credit to be used on a home either to pay closing costs or to add to a down “Home buyers using FHA-approved lenders can apply the tax credir to their down payment in excess of 3.5 percenrt of appraised value or their closing which can help achieve a lower interest a HUD announcement said.
The stimulux tax credit can be claimedc on a 2009 or an amended 2008 tax FHA still will require home buyersd to makea 3.5 percent down Mark Harden is a reporter with the Denver Business a sister publication.