Question: I want to buy a home, but I don’t have much money. Can HUD help me?
Answer: Helping people become homeowners is one of the most importantthing HUD does. Here are some suggestions:
- Start by reading our "homebuyer's kit "- particularly the part about the federal mortgage programs that can help people buy homes. HUD's FHA has many mortgage insuranceprograms that can help first-time homebuyers. Also, be sure to read about buying a HUD home - they can be very good deals!
- Contact one of the HUD-approved housing counseling agencies. They can help you sort through your options.
- Call your local office of housing and community development or your mayor's office to see if there are any local homebuying programs that could help you.
Question 2: I'm interested in an FHA mortgage. Who do I see?
Answer: You'll need to go see a HUD-approved lender .
Question 3: I'm thinking about buying a home, but I don't really know if it's a good idea for me. Who can I talk to?
Answer: There are HUD-approved housing counseling agencies that can help you decide whether buying a home is right for you. Contact one
in your area.
Question 4: How do I know if I qualify for a mortgage?
Answer: There are many different kinds of mortgages available, and qualification requirements vary. The best thing for you to do is shop around - talk to two or three local lenders to find out what kinds of mortgages they have available that could fit your situation. There are a number of mortgage calculators online that can give you some idea about your ability to qualify for a mortgage. HUD offers a good calculator, in our "homebuyers kit ." You also might want to contact a housing counseling agency. They may be able to direct you to the kinds of mortgage programs that might fit your needs.
Question 5: I've heard of the Officer Next Door and Teacher Next Door programs. How can I find out more?
Answer: Teacher Next Door and Officer Next Door have been combined into Good Neighbor Next Door .
Question 6: I'm considering buying a manufactured home. Does HUD have any information about these homes?
Answer: We have lots of great information about manufactured homesin our "homebuyer's kit ," including an excellent consumer's guide.
More information about homebuying .