If you are a first time home buyer, you are able to get an $8,000 tax credit, which is basically free money, as long as you settle on your home by December 1, 2009.  Many first time home buyers use FHA loans to buy their first house.  FHA has recently stated that it will allow the $8,000 credit to be used towards the down payment of the house.  If you are buying a $230,000 house and FHA requires 3.5% down, you will not need any money for the down payment if you use the $8,000 credit.  Also with FHA, you can get the Seller to pay for the closing costs, so you can get in your new home for very, very little out of pocket.  Please contact me today for further details.