$8,000 tax credit for the down payment on a house

This is basically not possible.  You get the $8,000, but it's after you purchase the house and it might not be the whole $8,000, as it's a tax CREDIT.  If you file your 2009 taxes and you end up owing in $2,000, with the $8,000 tax credit you will only get $6,000.  On the other hand, if you were to get a refund of $2,000, with the $8,000 you would end up getting a refund of $10,000.  Because it's impossible to know what you will be getting for a refund till you file your taxes, the tax credit can not be used for the down payment.  There are a few "approved" agencies that can contaract to BORROW you the $8,000 on the agreement that when you get your refund from the IRS you will pay them back, but 99.9% can't get this, so basically the tax credit is AFTER you buy your home.  The repeat buyer tax credit of up to $6,500 can not be used for real estate INVESTMENTS.  You have to occupy the property you will be purchasing.  You can buy a rental property if you are going to live in it, but you can also only use the value of the % you will be living in.  For example, if you buy a 4-plex for $200,000 what you would base your tax credit on is a value of $50,000.

Deal with a knowledgeable mortgage professional who has researched the tax credit thouroughly (like me).

Get your offers written now, as you only have till 4/30/10 to have an offer accepted and you must close on that purchase by 6/30/10 to be eligible for the tax credits.