It looks like these will probably be the final terms:

-$8000 credit ($4000 for married filing separate)
-Effective for purchases on or after Jan 1, 2009 and before Dec 1, 2009. So no penalty if you close today
-2009 purchasers can make an election to claim the credit on their 2008 tax return
-The credit is refundable -- refund computed in conjunction with filing 1040 tax return
-No repayment requirement for 2009 purchases unless property is sold within three years of claiming credit
-Purchasers who finance their 2009 purchases with revenues from a state/local bond authority will be eligible for credit

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