There are many special programs and that can make getting a first mortgage easier. Some of the better-known national programs include:

FHA (Federal Housing Administration)

These loans are government-insured mortgages primarily for first-time home buyers. These loans allow you to buy a home with a lower down payment, and come with guidelines that let more people qualify. They're available from most mortgage lenders. There may be specific benefits and restrictions to FHA Loans in your area; ask your mortgage lender.

VA (Veterans Administration)

These loans are available to veterans of the armed services, those currently on active duty or in the reserve, and their spouses. A VA loan can make it possible to buy a home with no money down.

Rural Housing and Community Development Service (RHCDS)

RHCDS provides home financing to qualified borrowers who are unable to obtain home financing elsewhere. If you are a farmer, or live in a rural area, ask your mortgage lender if you may qualify.

There are many other loan programs that offer homebuyers low down payments and have guidelines that let more people qualify. They may be administered by state or local governments, or other organizations. Once again, your mortgage lender can help you with this.

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