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Empresas y finanzas

U.S. FHA to apply $8,000 credit toward home buying cost


    WASHINGTON (Reuters) - The Federal Housing Administration will allow the new $8,000 first-time homebuyer tax credit to be applied directly toward home purchase costs when using an FHA-insured mortgage, the Department of Housing and Urban Development said on Friday.

    The plan to "monetize" the tax credit up-front is aimed at more quickly stabilizing the housing market, HUD Secretary Shaun Donovan said in a statement. But in detailed rules, the FHA will still require home buyers to provide a minimum 3.5 percent downpayment from other sources.

    (Reporting by David Lawder; Editing by Theodore d'Afflisio)