Some of this programs are due to expire soon but anyone can still take advantage of them now. Here few things those the qualify may take advantage of:
- FHA limits are still $341250 but this may decrease as early as Jan 2009; therefore, those wanted to take advantage of this FHA programs must act NOW!!
- First-Time Home Buyer Tax Credit with up to $7500 is due to expire on Jun 2009 - great program for first time buyers only or buyer that has not own a property in the past three years.
- FHA programs required a 2.5 % down still [could be gift money] but this will increase to 3.5% as og Jan 2009. Now is your time to buy with little down but you must ACT NOW to close before 12/30/2008.
- Seller may contribute up to 6% toward concessions still - Buyer must take advantage of this while it last
- VA - Veterans Programs still available at 100% NO PMI
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