Getting Government Home Loans – Help With Your Mortgage and Down Payment

It is commonly assumed that the government is the bad guy. But a million happy homeowners who have received government home loans will disagree. The United States government is quite generous and accommodating when it comes to helping taxpayer purchase their homes. It is a pretty well kept secret that your good old Uncle Sam will either:

a) directly loan you money to make a down payment,
b) cosign a loan from a bank or private lender to pay for home in full, or,
c) just give you free government money to buy a home, that you never have to pay back.

Does this sound amazing to you? Well it, but it is true. If you are looking to buy a home, or trying to keep a home you already have, but are experiencing trouble affording it, the government may be willing to do all of those things to help you, and then some. Before you sell a home that you think you can no longer afford, or purchase a property with a high interest bank loan, or even just forgo purchasing a home altogether and continue throwing hard earned money away in rent, I advise you to read on about the many opportunities to may be eligible to qualify for in government home loans, and free grants. The next three paragraphs could literally save you hundreds of thousands of dollars.

If you are searching for a small modest single family home, or even something suitable to be used as a “bachelor” pad, you may be able to avoid the fat cats at the banks and credit unions and qualify to receive a very low interest government home loan to finance a small property. This type of government loan is awarded to you directly from the government, and that is directly where you will send your monthly mortgage payments, couldn’t be simpler.

Or if you are pursuant of a larger property or estate, if you will, the government may not be so willing to lend you the money themselves, however, they may be willing to provide you with a government secured bank loan from a private lender.

In this case, you will not be required to provide any collateral, or use your new home as a security deposit, for the bank to take from you if you should happen to default on your payments. Basically, this is a promise between you, the bank, and Uncle Sam that states that if you were to default on paying your mortgage payments to the bank, the government will cover it. This allows the bank the ability to dramatically decrease your interest rate, saving your thousands of dollars yearly.

Your third possible option, now hold on to your hats, is free government money to buy your home. That’s right, free money. The government actually has billions of dollars that support first time home buyer grants, real estate grants, and home grants. The application procedure is similar, though quite longer and more detailed than a government home loan, but the attractive part is that you will never be required to pay this money back. It is entirely possible to fully finance a down payment for a new home, or pay past due mortgages to keep your current home, with no credit check, no repayment, plan, and no interest…just a whole lot of free government money.

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