This is a great segment that puts a simple explanation of the $8000 federal tax credit into visual form.
$8000 Tax Credit – FHA Lets You Use It Now
HUD has announced that FHA lenders can develop bridge loan products to allow buyers to use the $8000 tax credit at the closing. From early news it's not so straight forward as letting you use the $8000 as your complete down-payment but some aspects are pretty close.
