Can the $8,000 First-Time Home Buyer Tax Credit for Down Payments on FHA Loans? The Department of Housing and Urban Development (HUD) account last week that first time home buyers would be able to use the $8,000 “first-time home buyer tax credit” for down payments on FHA loans through the use of bridge loans.
The Department of Housing and Urban Development posted the information on their website in HUD Mortgagee Letter 09-15. For some reason they have completely removed the information from their website. People are speculating that the program is on hold because they have decided to make changes to the program.
While no official explanation has been given, it appears that The Department of Housing and Urban Development and the Internal Revenue Service are researching the details of the program, leaving the status unknown for now
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