The Home-Buyers tax credit is not only for 1st Time Home buyers anymore. There has been an extension on the original tax credit allowing first time home buyers, who qualify, to receive an $8,000 tax credit. Click Here for More Information.

The expansion of the credit is for home owners who have owned a residence for at least the past 8 years and lived there for a consecutive period of...

On May 29, FHA released the highly anticipated details of its program to allow lenders who offer FHA-insured mortgages to make available bridge loans, enabling buyers to use up to the full amount of the first time homebuyers tax credit towards closing costs, including the down payment.

VHDA, an FHA-authorized entity, responded quickly by releasing details of a loan product called Homebuyer Tax Credit Plus, a mortgage with a built-in bridge loan complying with the FHA's program, to help cover the down payment and closing costs, with zero interest and no payments for the first 12 months.

Buyers must have an executed contract by May 1, 2010 and loan must close by July 1, 2010 to qualify for the program, so tell them to act now to get their piece of economic recovery money!

[Visit VHDA.com for details on Homebuyer Tax Credit Extension and Expansion.]