Is a USDA guaranteed loan considered a Mortgage Revenue Bond?

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My son bought his first home with a USDA Guaranteed Loan..I read somewhere that a home bought with a Mortgage Revenue Bond does not qualify for the $8000 government first time home buyer tax credit.

2 comments to Is a USDA guaranteed loan considered a Mortgage Revenue Bond?

  • patlen  says:

    I suggest you look at a couple of sites, First try to find a copy of the new law online it can probably be found at or through http://www.FinancialStability.gov if it is not there then go to http://www.IRS.gov if that doesn’t suffice then consult an accountant or Attorney although I am confident you can find the answer online. I am almost positive the bill does not include any distinction as to how you buy the house as long as the purchase is made I think you qualify for the credit. Please let me know what you find I’m curious
    Thank you,
    Lenin Patino

  • daeve930  says:

    It’s possible. He can call the USDA servicing department — there should be a phone number on his statement — and they’ll be able to tell him.

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