The Fannie Mae First Look Initiative was created to help home buyers who intend to occupy the home as their primary residence. For the first 20 days a new HUD foreclosed property becomes available on the HomePath website, only owner occupied buyers are allowed to bid on a property.
· First Down, one of the first time home buyer grants in Rhode Island offers down payment assistance of $7,500 which is forgivable after five years. HUD 203 (k) loans If you plan on buying a that needs improvements, 203 (k) is one of the HUD loans that may be useful to you.
FHA loans help more first time homebuyers become homeowners than any other type. fannie mae and Freddie Mac are two types of Government sponsored.
Fannie Mae and Freddie Mac are "government-sponsored enterprises" (GSEs).. claim for Government assistance in the event they ever get into financial trouble.. responsibility to the Department of Housing and Urban Development (HUD).
The Home at Last enhancements combined with the Federal Housing Administration (FHA) mortgagelast year is encouraging low-to-moderate income borrowers into the housing.