If you buy a house in 2009 and it is your first house then you will get the 8,000 tax credit when you file your taxes for 2009. So you can not use it as a down. Of course there are other ways to get the money such as a loan which may effect your credit for buying a house. If you get the tax credit you have to stay in the house for at least 3 years, and it has to be your first house. It is a great time to buy interest rates are low!

What? That’s what caused the housing crisis. People were borrowing the down payment on credit and the mortgage. Later they then got both bills. Forget it if it’s still around. It’s called a Prime Mortgage. Banks are no longer supporting it since they learned that people who don’t have down payments usually can’t pay the mortgage and they get foreclosures. It’s highly unlikely to find that now unless you are rich and just want a home buyer credit plan to pay more for your house.

I have not heard that and do not know how that would be possible as the tax credit would be given to you when you file for your 2009 tax returns next spring