AffordableHousingOnline

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An extensive list of coronavirus resources for low-income households can be found here.

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How to Buy a Home?

Low to moderate income buyers are able to purchase an affordable home; and many studies show that home ownership most likely will be cheaper and more beneficial than renting in the long run. But for some people, renting may better fit their lifestyle and situation.

Before reading any further, it is important to know the advantages and disadvantages to owning your own home vs. renting.

Start the guide at Part 1: What is needed to buy a home? or choose a topic from the list below.

Homeownership Guide

  1. What is needed to buy a home?
    1. Money for a down payment.
    2. A good credit score.
    3. A good Debt to Income Ratio (DTI).
  2. Mortgage and Other Loan Programs
    1. FHA Loan
    2. FHA 203(k) and Streamlined 203(k) Loans
    3. VA Home Loan
    4. VA Native American Direct Loan (NADL)
    5. FHA Title I Financing Manufactured (Mobile) Homes
    6. USDA Section 502 Guaranteed Loan Program
    7. USDA Direct Loan
    8. Housing Choice Voucher (HCV) Homeownership Voucher
    9. Public Housing Homeownership
    10. HUD Homes