Washington REALTORS sent out a press release about a program approved by the state Legislature that would create a loan for first-time homebuyers, so they could get the $8,000 tax credit — available for first-time homebuyers — sooner.
The program approved by the Legislature would allow homebuyers to borrow that $8,000 from a state-sponsored program so they could put the money toward a down payment or closing costs.
From the press release: “The program authorizes the state treasurer to deposit $25 million in a financial institution, which would then open a line of credit for the Washington State Housing Finance Commission (HFC). The HFC would use that credit line to pay for down payment loans to first-time buyers. Buyers repay the advance loan after filing for and receiving the tax credit.”
This is great news and should definitely help the market build and keep momentum going forward.
~ Courtesy of The Capitol Record
- Jeanette Eide
- Bellevue, Washington
- I’m a full-time professional Realtor specializing in residential resale and new construction in Seattle, Bellevue, Redmond, Kirkland, Issaquah, Newcastle, Sammamish, Bothell, Mill Creek, Snohomish, Everett, Woodinville, Kent, and Renton. Together with my husband Erik, we have over 17 years experience. We take the time to listen – getting to know you and establishing your exact needs. From there, our sole focus is getting you where you want to be, on time, in the smoothest manner possible. Together with our team of professionals, the closing of your transaction will be handled knowledgeably with the attention to detail you expect and deserve.
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