There is an $8,000 tax credit for first-time homebuyers through 2009. Recently the rules have been changed on FHA loans to allow the credit to apply to your home down-payment.

More details here.

There is fear that this is just another incentive for people that really can’t afford a home to get one anyway, but if used responsibly it’s a great incentive that just got sweeter. Note this is only applicable for FHA loans. Other loans will still qualify for the tax credit as it was before.