The Mortgage Blog

There has been much talk about HUD introducing another first time homebuyer incentive which will add to the already current tax credit.  What it sounds like at the moment is using the tax credit upfront by means of a "bridge loan" from the first mortgage provider and the loan will be paid once the individual recieves their credit. The terms have not been completely described and it seems that it may need individual State approval.  Of course Lending institutions will also have to buy into this.  So before you get too excited please stay tuned for any further updates.  In the meantime, go buy your first home before the funds are gone.  Eight grand is still eight grand before or after!

If you have any questions or comments please feel free to email me at john@centerpointemortgage.com