how do you go about getting a government loan to buy a house?and does anybody know who has?

Answer 1

Yes there are several government loans out there, you must research to find the best one for you. You can try Fannie Mae, or HUD, or a no money down program, or go to a mortgage broker and tell him what you would like to do, most of them know of programs. Be careful though some of them will try to convince you to get an high interest loan and talk you out of a government loan because it is more work for them and they don't get a commission. There is also a Nehemiah program that will allow you to become a landlord for first time home buyers. Most of these programs have restrictions, some of them is interested in your credit scores, some of them is interested in a down payment and some of them the person selling the house would have to agree to assist with that type of loan. The best thing to do is not to rush and plan out every thing. Get more than one advise and never use the same loan officer of the person you are buying your home from. Sometimes they don't work in your best interest. Also go home and review everything before you sign it and ask a lot of questions, buying a home is a lot of work and it is a life time debt, so you want to make sure that you come out on top. I hope I was helpful.......

Answer 2

For the most part, the government does not lend money to buy housing.

There are a number of government backed loan programs that do assist people in securing home loans. The most common of these, open to virtually anyone, is the FHA insured homeloan program. The loan is made by a commercial mortgage lender and guaranteed in part by the government.

Any mortgage lender can advise you on what programs you might be eligilble for.