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Use the $8,000 Home Purchase Tax Credit on closing cost or buy down interest. It's starting to pop up everywhere but here is the Newest hope for home buyers from FHA/HUD- Click for Information

Missouri Housing Program appears to have started this new idea of allowing the tax credit to go toward down payment.  To put it simply: you get a second mortgage at little or no interest, to be paid back with your Tax Credit Money.   Idaho Housing and Finance Association is now offering this options also.  And the Link above shows FHA/Hud has broaden the availability of using the 8,000 tax credit in other ways.

Some state finance agencies have programs in place that will allow you to use the Tax Credit as a downpayment and closing cost,  in the form of a second mortgage secured by the refund and to be repaid upon receiving that credit. 

Leverage your tax credit for downpayment in Ohio. 

I have currently suggested this program to one of our local banks and if they start to offer this program, I will keep everyone informed.

If you know of any local banks offering this:  Let me know because I would like to post the information. 

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