Massachusetts Has Plan For First Time Home Buyers to Use the $8000 Tax Credit for Downpayment
Boston Globe
Hundreds of first-time home buyers in Massachusetts will be able to get an advance on an $8,000 federal tax credit, allowing them to apply the money to down payments and closing costs, under a new program unveiled by Governor Deval Patrick yesterday.
Jenifer B. McKim
July 15, 2009
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Hundreds of first-time home
buyers in Massachusetts will be able to get an advance on an $8,000
federal tax credit, allowing them to apply the money to down payments
and closing costs, under a new program unveiled by Governor Deval
Patrick yesterday.
Under the plan, the state will loan $8,000 to eligible borrowers who
buy a home before Dec. 1 and finance it through the state’s affordable
housing bank, MassHousing. The loans will be interest free if repaid by
June 1, 2010. By that time, buyers will be able to claim the $8,000
federal tax credit included in the federal Housing and Economic
Recovery Act of 2009. more.......
For more First Time Home Buyer Information.....
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