Re: Question about FHA and loan eligibilit
08-11-2009 03:52 AM
I think some of you are confusing this $8,000 tax credit. It's only for 10% of the sales price. From the sounds of these boards it sounds like everyone expects to get $8,000 even if they are only buying a $100,000 house which isn't the case.
You need to stop spreading your paranoa. Seriously, get some help. 10% OF 100,000 = 10,000
THE CREDIT IS 10% OF SALES PRICE = 80,000 IS ALL YOU NEED FOR A MIN HOME PURCHASE.
(On your calculator, multiply 0.10 x 80,000)