What programs are available to help me buy a home?

Question

My credit is bad/young Im 23 and cannot get a home loan and i do not want to rent when there is homes for the price of rent for sale. I have 3 kids and my mobile home is just not cutting it. Thanks

Answer 1

the government has many programs for you.
too much to write down
http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm

Answer 2

Fanny Mae has a program to help new/first time homeowners. Also, check with local realtors. Most of them have in-house programs which help newcomers establish a foundation for preparing to purchase a home. You get to clear up any debt, take classes (most of the free) on homeownership, purchase, laws, taxes, the whole nine. When I first bought my home, I attended a 6 week class which basically tutored me through the loan process, debt elimination, and all the steps involved in the search and purchase of a home. You can also look in your local newspaper - there is always a homebuyers seminar somewhere. It is a good investment and when you have 'bad' credit and go through a program - it establishes you, makes people take you seriously. Make sure you consider the overhead. The tricky thing is - people will tell you that if you can pay $700 for rent - you can pay it toward a housenote - that's a trick. You spend much more than that - particularly if your home needs some maintenance! People forget roofs, basements, possible flooding, groundwork maintenance, windows, heat./air/water - lots of things we don't 'see' when we rent. But best of luck to you.