topic First time homebuyer credit in Mortgage Loans

First time homebuyer credit

Anonymous — Sat, 20 Feb 2016 21:16:24 GMT

Greetings, I plan on purchasing a home this year, I am single and make about 60k. Can someone explain how the first time homebuyer credit works, I know in the past in was like a 15 year no interest loan, is it an actually credit now and for how much? Any help explaining would be great, thanks.

Re: First time homebuyer credit

Anonymous — Sat, 20 Feb 2016 21:25:10 GMT

I'm not 100% sure but I believe that program ended back in 2010?

Re: First time homebuyer credit

Anonymous — Sat, 20 Feb 2016 23:42:52 GMT

There is not a First Time Homebuyers Credit. It ended in 2010.

Re: First time homebuyer credit

StartingOver10 — Sun, 21 Feb 2016 01:33:20 GMT

To find what FTHB programs are available for you google your state and county + First Time Homebuyer Program and you should see several different types. Some programs are bond type programs, others are down payment assistance etc. Some have income restrictions and other types of restrictions. Make sure you read the requirements before applying for any of these programs. The income restrictions are strict - to the dollar, no overage allowed at all.