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Old 02-05-2009, 03:36 PM
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First-Time Homebuyer Credit and MRBs

The details on the new credit read that you cannot take the credit if:
- Your home financing comes from tax-exempt mortgage revenue bonds.

I took a FHA loan for 95% of the cost and a second "bond" to cover basically the rest. The closing documents show the second mortgage to be a "multistate fixed rate note – single family-fannie mae/freddie mac"

Are either of those loans considered tax-exempt MRB's or am I good to pursue the credit?

Thanks a lot.



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