According the Mortgage Bankers Associaction, FHA loans, which are government backed loans made up 36% of loan application which is the largest amount since 1990.

FHA loans require only 3.5% down payment and it is affordable to most homebuyers and first time homebuyers, if they CLOSE by November 30, 2009 (time is ticking away), are also eligible for $8,000 back.

WIth interest rates low, FHA loans readily available, and $8,000 to first time home buyers, why are you waiting. Talk to a realtor today.

Keep in mind that first time home buyers are also people who have NOT owned a home within the last three years - it doesn't mean that it is your first home.

Have a great day and enjoy!