There is a new program for 2009 which could possibly make you $8,000 richer in the form of a tax credit [which you don’t have to pay back].
1. Buy a home in 2009 [Before Dec 1st 2009]
2. Be a First time buyer [You can’t have owned another primary residence in the last 3 years]
3. Don’t make more than $75,000 a year [more than this and you get less of the credit until if you make too much you get nothing]
4. Keep your home for 3 years [or you have to give the money back]