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June 01, 2009

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Comments

Robert D Flach

TM-

If all a potential homebuyer has to put down on a house is 3.5% - or the $8,000 gift from "Sam" - he/she should not be buying a house!

Isn't this how the whole mecking fuss started in the first place?

TWTP

trishmc

TWTP
I didn't use FHA to buy my house but as I understand it, 3.5% is their regular minimum down payment. Which the buyer still has to come up with before the credit.
Trish

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    A reader should seek advice from an independent tax adviser with respect to the information on this blog based on the reader’s particular circumstances. This advice is intended to be general information and cannot be used for the purpose of avoiding penalties that may be imposed by the IRS regarding the transaction or matters discussed here.
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