The East Baton Rouge Parish Mortgage Finance Authority has extended a popular program that allows qualified homebuyers to receive federal tax credits early. The program allows first-time homebuyers to receive an $8,000 credit for buying a home before they file their 2009 federal income tax return. The program applies to people who close on a home by June 30, with purchase agreements signed no later than April 30. The borrowers must use the $8,000 for a down payment or closing costs, and have to pay back the mortgage finance authority either as soon as they get the credit or pay it off over 10 years. The group is offering a similar arrangement for non-first time homebuyers, who can get a $6,500 tax credit.
EBR Mortgage Finance Authority extends program
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