As you may already know, the federal government just extened the housing tax credit through April 2010.  First-time buyers may be eligible for as much as $8,000 if they close on a new home by June 30, 2010. 

And, for those buyers who are move-up or repeat buyers, you get a credit too!  Qualified buyers can receive as much as a $6,500 tax credit if they purchase a home by June 30, 2010. 

It is important to know that Florida's finance housing agencies have introduced programs that provide short-term second mortgage loans that may be used to fund a downpayment.  Contact the local State Housing Initiatives (SHIP) office at (352) 264-7013 to learn more. 

Additionally, HUD will allow buyers using FHA-insured mortgages to apply their anticipated tax creit toward their home purchase immediately rather than waiting until they file their taxes.  These funds may be used for certain downpayment and closing cost expenses.

For more information, visit www.federalhousingtaxcredit.com.