FHA Home Loans, VA Home Loans and Other Programs

There are several special low down-payment programs available for borrowers who meet certain criteria. Here are a few:

FHA loans include their own form of government insurance. Part of the premium is paid up-front, and part is charged as a monthly cost. Your home must meet certain cost guidelines, which vary by area. Special inspections are also required. Contact your state housing association for more information.

VA loans exist for veterans of the military. These loans have their own special requirements. If you are a military veteran, your local lender can provide you the details for your area.

In addition, there are many local programs for first time homebuyers. Check with your state Housing Development office for details on their programs. Many offer HomeOpeners® products as part of their program.

Private programs: For very low income families with a good work history, groups like Habitat for Humanity could be an option. Contact a local Habitat office for the guidelines in your area.