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As with any tax question, you should consult a tax advisor.
The tax credit has nothing to do with financing. You may be able to claim the credit even if you are paying cash for the property. The basics of the program are: 1) It is the lessor of 10% of the purchase price or $8,000 for a married couple. 2) It applies to purchases made in 2009 before December 1stof that year. 3) It is for people who have not owned a Primary Residence in the past 3 years.
You are able to find the IRS information at http://www.irs.gov/newsroom/article/0,,id=204671,00.html The form you need to file to receive the credit may be fount at http://www.irs.gov/pub/irs-pdf/f5405.pdf
Do I have to get a loan from a mortgage company or a bank to qualify for the first home buyer credit? Does a loan from a private party qualify?