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First Home Buyer Government Programs For Those In Need

Buying a mobile home for the first time can be a daunting task. The challenge usually lies in finding the right house size in the right neighborhood and at the right price. Normally, the biggest challenge most first time home buyers face is financing the down payment and availing the closing costs of the new home. To overcome these challenges, there are government agencies that are tasked with the responsibility of providing tax breaks and grants to help these first- time home buyers get their first home.

Typically, each state does offer different number of programs and at the same time offer varying levels of buyer assistance and engagement. Each state does define a first time home buyer as someone who is yet to own a home or an individual who has not owned a home in the past (3) three years. Even though all the states normally have a first time buyer requirement, this particular requirement is usually waived for qualifying veterans or even for someone who may be buying a home in a target area that’s been designated by the state.

For many Americans, the first stop point is usually the Federal Housing Administration (FHA). They are the preferred choice for many first time home buyers and also quite ideal for those who may have a credit history that’s not so stellar. What this agency does is to guarantee a portion of home loans given to these first –time home buyers. This does have the effect of freeing the lenders to significantly broaden their otherwise stringent acceptance standards. Buyers who have FHA backing can qualify for home loans with as little as 3.5 percent down payment. It is important to note though that not all lenders are categorized as FHA lenders and one should therefore get to know the available FHA lenders in their locality whom they can engage.

There are local governments and Housing Finance Agencies that provide candidates who are deemed to be eligible first –time home buyers with a tax credit which will assist them with home ownership expenses. Some agencies offer what is known as a mortgage credit certificate program. This program does provide candidates a tax credit of around fifteen (15) percent of their annual mortgage interest. Most of these tax credits usually provide home buyers with a dollar to dollar reduction of their federal tax liability. Further to this, buyers are still eligible to claim the remaining percentage of their mortgage interest tax reduction.

Even though this does come as a surprise to many, the US Department of Agriculture does have a very vibrant homebuyer’s assistance program, and contrary to popular belief, you don’t have to live in a farm to qualify for this loan. This unique program typically targets those rural and slightly undeveloped areas. It does allow for a hundred percent (100%) financing by offering lenders what can be termed as mortgage guarantees. It is worth mentioning though that there are income limitations which come into play when applying for this program and these limitations vary from one region to the other and one must therefore make relevant inquiries.

Another interesting initiative is the Good Neighbor Next Door initiative. This was previously called the Teacher Next Door Program but was later expanded to include emergency medical technicians, law enforcement and firefighters. This program is sponsored by the HUD and does allow for up to fifty percent (50%) discounts on homes that are located in sites or places designated as revitalization areas. This offer does come with several riders though with the most conspicuous being that you have to commit to live in the property for at least thirty six (36) months. These homes are usually listed for a maximum of seven (7) days on the Good Neighbor Next Door website.  

Here are some of the popular agencies that offer some interesting first time home buyer government programs in the market. They include but are not limited to the following:

1) U.S. Department of Housing and Urban Development

Mailing Address: 451 7th Street SW, Washington DC 20410

Phone Number: 800-569-4287  

Web URL:

Programs Offered: Apart from first –time home buyer’s loans, they also offer a wide variety of products such as FHA-Energy Efficient Mortgage, FHA Reverse Mortgage for seniors and loans for mobile homes and manufactured housing.

2) Good Neighbor Next Door (U.S. Department of Housing and Urban Development)  

Mailing Address: 451 7th Street SW, Washington DC 20410

Phone Number: 202- 708-1112

Web URL:

Programs Offered: they offer other HUD special programs such as nonprofits and $ 1 homes government sales programs

3) United States Department of Agriculture

Mailing Address: P.O.Box 66889, St. Louis, MO 63166

Phone Number: 800-414-1226

Web URL:

Programs Offered: apart from the single family housing guaranteed loan program, the department does offer other programs for businesses, lenders, developers and cooperatives.

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