FHA Home Mortgage Loan Interest Rates

We have found a wonderful home at an awesome price that we can afford, but, the home needs cosmetic repairs where the previous owner left off on renovating both of the bedrooms (No floor covering or doors) and the only bathroom (No doors, floor covering, or tile…but, one working toilet, working sink, and tub).

This home is a small sale and the bank(seller) will NOT pay the repairs or include money in the sale price for the repairs.

The now required 3% down by FHA will take nearly all of our savings. We are trying to find the best option for getting money to end the renovation to make the home at least comfortable in the bedrooms/bathroom area.

If anyone has any thoughts, our ears are so very open because we are signing the offer contract today (The offer has already been worked out between the bank(seller), our mortgage broker(through FHA), and our Realtor and pre-approved so I don't reckon there's any chance of altering it if we want it accepted. The Realtor already proposed that the bank pay some of the repair cost but they won't.)

We're pretty frightened about living in a home (as fantastic as it is) with no flooring or doors and exposed wall board(tile foundation) everywhere in the bathroom.

We are specifically wondering if maybe there is a way to get an advance on, or a loan against the 00 tax credit that we will receive next year at tax time?

We are open to any suggestions that will help us with this dilemma but!

We are even wondering about Federal Grants, but there is so much hype and scamming surrounding them it seems like and we don't know the best way to approach one without getting taken for a ride.

Thanks in advance for your help, any help
We don't need the 00 before closing, just way before April 2009 which is when we will be due to receive it. (Like within a month after closing)

This house is very much within our price range and one of the lowest in the market for our boy's school district with 2 bedrooms which is the bare minimum we can live in as a family of 4. This home is selling to us about 60% of the appraisal after the repairs are done. We have lived in a tiny 2 bedroom apartment for 4 years saving what we have to place down on the house and the boys are too huge to have any room to study effectively, have friends over, etc. so moving is certainly a must and buying is a much better option than putting this money toward a larger apartment that is going to cost more than this mortgage.

Hope these added details help. Thank you so much for the suggestions so far!!!
Edit "April 2009" in details above = "April 2010"
SRC50,

Thank you so much for your answer to my question is Yahoo Answers regarding the 00 tax credit as follows:

"You cannot get the 00 tax credit in advance. It is payable only AFTER you close on the house.Source(s):http://www.federalhousingtaxcredit.com"

I followed the link and found the following information in the FAQ:

"If I’m qualified for the tax credit and buy a home in 2009, can I apply the tax credit against my 2008 tax return? …Yes…" (followed by more information)

Do you know if this means we can amend our return after settlement and receive the money for the credit at that time???

Sincere Thanks!