Homeownership is one of the things that keeps people in the middle class in the United States. In fact, the government gives incentives to encourage people to own their own homes.
Home loans and sites run by the government
The government is known for having an effect on how we all act. Even though people hear or read about scary conspiracy theories, the government usually does this in a quiet way. In particular, it uses financial rewards or penalties to get us to do what it wants. When it comes to buying a home, the government gives us a lot of information and incentives to try to get us to invest in our dream home or at least buy a first house to get us there. In fact, there are a lot of websites run by the government that have all the information you could want.
One of the most important groups dealing with homeownership is the U.S. Department of Housing and Urban Development. The department, which is better known as HUD, has a website where it lists all of its programmes, the benefits and requirements of each, and foreclosed HUD homes that are now for sale. Just type "HUD" into a search engine to find the site.
In the case of HUD, it is important to know that the agency does not actually write mortgage loans. Instead, it makes sure that loans are paid back if certain conditions are met. This is basically the same as having a rich uncle cosign your loan, which is something banks love. In fact, because the government backs HUD loans, the down payment can be very low.
If you served in your country's military, you are almost always called a "veteran." Even though salaries in the military aren't very high, the benefits can make up for that. In addition to college loans and other things, the U.S. Department of Veterans Affairs gives veterans breaks on their home loans. You can get a lot of help with loans for your first home from the VA, and there are even ways to get into VA-owned foreclosed homes. Just type "VA" into a search engine to find their site.
Whether you want a HUD loan or a VA loan, you should look into the programmes that are out there. You might find out that you can get help with the down payment or that the terms are very good, which will save you a lot of money.
