Posts Tagged ‘tax credit loans for down payment’
Tax Credit Loan

Question: can i qualify for $8000 tax credit if my parent is primary borrower but i am on sales contract and loan?
i am going to grad school so my income will not qualify me. this is first time home purchase and i will live there for at least 4 years. my mom can qualify for the loan and put me on as a purchaser on the sales contract. i would also be on the loan if necessary. Can i qualify for the tax credit under these conditions? thank you.
Answer: Probably not – sounds like your mom is really buying the house, not you.
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Tax Credit for First Time Home Buyer Loans, FHA and Government Mortgage Incentive Program