The Federal Housing Administration is going to permit some FHA approved lenders to allow qualified home buyers to use the $8000 tax credit as a down payment. Home buyers don't need to wait until they file their income tax next year, they can use these funds now. This is according to Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development.
Are you planing to buy your first home? I am a Chicago based Realtor; how can I help you? Contact me @ 773.960.3810 Luis Salgado. Tambien Hablo Español.
Let me know if you have a question regarding this credit or for any real estate questions.
Source:
http://www.realtor.org/RMODaily.nsf/pages/News2009051202?OpenDocument
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