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8000 Tax Credit Down Payment

February 13th, 2010

Question: Do they do a credit check on you to qualify you for the $8000 tax credit as a down payment for a new home?

There is a new neighborhood of new homes, they say that if you qualify for the $8000 tax credit, that you could use that as a down payment so I will put $0 down. Will they (not the IRS but the ones that are gunna sell us the home) do a credit check on me and my husband?

Answer: They have to do a credit check, not for the $8,000, but because they have to finance the rest of the apartment value. They are letting you use the $8,000 as down payment, which is fine. The $8,000 is for first time buyers, which I believe you are.

Sponsored By:
IN THE CIRCUIT COURT OF THE FOURTH JUDICIAL CIRCUIT, IN AND FOR NASSAU COUNTY, FLORIDA Case No. 2010 DR 104 Division: B Steven William Phelps, Petitioner, and Sebastian Otte, Respondent.

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