Finding a mortgage is one of the first steps involved in buying a home. The Department of Housing and Urban Development (HUD) is the nation's housing agency. They have a helpful list of 9 steps to buying a home, which includes figuring out how much you can afford, knowing your rights, shopping for a loan, making an offer, getting a home inspection, and much more.
Shop for a Loan
One of the first steps you'll take in buying a home is shopping for a loan. There are many sites that can help you find a housing loan:
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Home Buying Programs
There are many home buying programs to help you:
- Home Buying Programs in Your State – Find state or local government home buying programs in your state.
- Good Neighbor Next Door – If you're a law enforcement officer, pre-kindergarten through 12th grade teacher, or a firefighter/emergency medical technician, this program allows you to become a homeowner. If approved, you'll receive a 50% discount off the list price of a home, on the condition that you commit to live in the property as a sole residence for 36 months.
- Local Public Housing Agency – This program helps public housing residents own a home by converting rent into a mortgage payment.
Mortgage Payment Assistance
- Making Home Affordable – The Department of Treasury and HUD can help struggling homeowners get mortgage relief through a variety of programs.
- Housing Counseling Agencies – HUD helps these agencies provide homeowners with free or low-cost advice on home related issues.
- Reverse Mortgages – HUD provides answers to frequently asked questions about reverse mortgages.