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Nice Guys Work Hard & Associates This site is where you find answers.
This is some excellent information from the MHDC regarding using the tax credit as a down payment! Missouri is the first state in the country to structure a loan product like this so far.
#1 information about Missouri Tax Credit Program
#2 information about Tax Credit Advance Loan
Yvonne: here’s some more information about these loan programs:
http://www.mhdc.com/homes/firstplaceloans/FAQ.htm
More good news from CNN report
…Record-high affordability
The report’s housing affordability index rose 13.6 percentage points to 166.8, a new record high.
A value of 100 means that a family with the country’s median income has exactly enough income to qualify for a mortgage on a median-priced existing single-family home. The higher the index, the better housing affordability is for buyers.
The reading shows the relationship between home prices, mortgage interest rates and family income is the most favorable since tracking began in 1970.
“History suggests that home sales can rise even in times of job losses when housing affordability rises,” said Yun, adding that he expects sales to turn around by the summer.
First Published: March 3, 2009: 10:06 AM ET
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Mar 2, 2009 
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