First time home buyers
The U.S. Department of Housing and Urban Development (HUD) offers an array of programs through the Federal Housing Authority (FHA) to help individuals purchase homes. The FHA programs are designed to make buying a home more affordable. Programs provide such benefits as low down payments, assistance with closing costs and low interest rates. FHA programs include some specifically geared toward first-time homebuyers, who must meet several FHA guidelines in order to participate in the programs. To qualify, FHA borrowers often have never owned their own home or have not owned in three years.
FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.
- Low down payments
- Low closing costs
- Easy credit qualifying
HUD. GOV source of information.