Great News for Home Buyers

Shaun Donovan, the secretary of the US Department of Housing and Urban Development, announced that the FHA will allow borrowers to use the $8000 tax credit as a down payment on their mortgage. 

This was announced in front of several thousand realtors who were gathered on Tuesday a The Real Estate Summit: Advancing the U.S. Economy.  Secretary Donovan said that these changes will help people purchase their home easier.  This implementation will also allow qualified buyers to have the access to funds immediately at closing.