Buying a home can be scary, especially for a first time buyer. Don’t worry. These are programs that can help you.
FHA Loans: Federal Housing Administration Loans: This is part of the U.S. Department of Housing and Urban Development. They can offer you very low down payments.
VA Loans: Veterans Administration Loans: If you have served on active duty in the US Armed Forces, the Reserves or National Guard, you might be eligible for this loan. The biggest benefit of a VA loan is a very low down payment, sometimes even 0%. If you qualify, you can get help paying your closing costs.
Good Neighbor Next Door Program: Police officers, teachers, firefighters and emergency medical technicians can get special help.
Homeownership for public housing residents: The Department of Housing and Urban Development helps public housing residents use their monthly rent to start paying for a home.
Indian Home Loan Guarantee Program: Native American tribes and individuals can apply to own a home on their native land.
You also have the option of working with a private lender, like a bank or mortgage company. There are no government agencies involved. These types of loans often have higher down payments.