Help to buy a home by Mathew Lesko

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50) 50% Discount For Teachers K-12 To Buy A Home

Called the ‘Teacher Next Door Initiative” and referred to as Program #14.310 in the Catalog of Federal Domestic Assistance, this program is designed to strengthen America’s communities by encouraging public and private school teachers to live in low and moderate income neighborhoods. Teachers (State-certified in grades Kindergarten through 12th grade) may purchase HUD-owned single unit properties located in designated revitalization areas at a 50 percent discount off list price. Teachers must agree to occupy homes as their sole residence for a period of 3 years. The teacher must also agree to execute a second mortgage and note in the name of the Department for an amount equal to the 50 percent discount. This zero interest note will gradually decrease over the 3-year mandatory residence period until it reaches zero. Should the teacher leave the home before the 1st anniversary of occupancy, 90 percent of the discounted amount will be due to HUD. Departure before the 2nd anniversary of occupancy will require a 60 percent repayment, and departure before the 3rd anniversary of occupancy will require a 30 percent repayment of the discounted amount.
Contact your local office of the U.S. Department of Housing and Urban Development at http://www.hud.gov/local/

51) $100,000 To Help Buy A Mobile Home and a Mobile Home Lot

(CFDA Program # 14.162)
Called the “Mortgage Insurance – Combination and Manufactured Home Lot Loans Program” and referred to as Program #14.162 in the Catalog of Federal Domestic Assistance, this program makes possible reasonable financing for the purchase of a manufactured home and a lot on which to place the home.
Contact your local office of the U.S. Department of Housing and Urban Development at http://www.hud.gov/local/

52) $200,000 To Help Buy A Home In A Area Affected By A Base Closing

Called the “Mortgage Insurance – Home – Military Impacted Areas” and referred to as Program #14.165 in the Catalog of Federal Domestic Assistance, this program helps families undertake home ownership in military impacted areas. These loans may be used to finance the purchase of proposed, under construction, or existing one - to four-family housing, as well as to refinance indebtedness on existing housing. All families intending to occupy the property are eligible to apply.
Contact your local office of the U.S. Department of Housing and Urban Development at http://www.hud.gov/local/

53) Government Backed Graduated Mortgage Payments

Called the “Section 245 Graduated Payment Mortgage Program” and referred to as Program #14.159 in the Catalog of Federal Domestic Assistance, this program helps early home ownership for households that expect their incomes to rise. The program allows homeowners to make smaller monthly payments initially and to increase their size gradually over time.
Contact your local office of the U.S. Department of Housing and Urban Development at http://www.hud.gov/local/

54) $100,000 To Buy Or Fix Up Houses In Older Areas Of A Town

Called the “Mortgage Insurance – Housing In Older, Declining Areas” and referred to as Program #14.123 in the Catalog of Federal Domestic Assistance, this program helps in the purchase or rehabilitation of housing in older, declining urban areas.
Contact your local office of the U.S. Department of Housing and Urban Development at http://www.hud.gov/local/

55) $150,000 To Purchase A Condominium

Called the “Mortgage Insurance – Purchase of United in Condominiums” and referred to as Program #14.133 in the Catalog of Federal Domestic Assistance, it enables families to purchase units in condominium projects.
Contact your local office of the U.S. Department of Housing and Urban Development at http://www.hud.gov/local/

56) $48,000 To Buy A Mobile Home

Called the "Manufactured Home Loan Insurance - Financing Purchase of Manufactured Homes as Principal Residences of Borrowers Program" and referred to as Program #14.110 in the Catalog of Federal Domestic Assistance, this program insures lenders against loss on loans. Insured loans may be used to purchase manufactured home units by buyers intending to use them as their principal places of residence. The maximum amount of the loan is $48,600, whether single or multiple modules. The borrower must give assurance that the unit will be placed on a site which complies with local zoning and land development requirements. Contact your local office of the U.S. Department of Housing and Urban Development at http://www.hud.gov/local/

57) $300,000 For People Whose Homes Were Hurt By A Disaster

Called the “Mortgage Insurance – Home For Disaster Victims Program” and referred to as Program #14.119 in the Catalog of Federal Domestic Assistance, this program helps victims of a major disaster undertake homeownership on a sound basis. Disaster victims are not required to meet the 3 percent minimum investment requirements. In order to qualify for assistance, the formerly occupied home must have been in an area designated by the President as a disaster area, and it must have been destroyed or damaged to such an extent that reconstruction or replacement is necessary.
Contact your local office of the U.S. Department of Housing and Urban Development at http://www.hud.gov/local/

58) $100,000 to Buy or Fix Up Homes In the Country

Called “The Very Income Housing Loans Program” and referred to as Program #10.410 in the Catalog of Federal Domestic Assistance, this program helps very low, low-income, and moderate-income households to obtain modest, decent, safe, and sanitary housing for use as a permanent residence in rural areas. Direct and guaranteed loans may be used to buy, build, or improve the applicant's permanent residence. New manufactured homes may be financed when they are on a permanent site, purchased from an approved dealer or contractor, and meet certain other requirements. Under very limited circumstances, homes may be re-financed with direct loans. Dwellings financed must be modest, decent, safe, and sanitary. The value of a home financed with a direct loan may not exceed the area limit. Direct loans are made at the interest rate specified in RD Instruction 440.1, Exhibit B (available in any Rural Development local office), and are repaid over 33 years or 38 years for applicants whose adjusted annual income does not exceed 60 percent of the area median income, if necessary to show repayment ability. Payment assistance is granted on direct loans to reduce the installment to an "effective interest rate" as low as one percent, depending on adjusted family income. Payment assistance is subject to recapture by the government when the customer no longer resides in the dwelling. There is no funding provided for deferred mortgage authority or loans for deferred mortgage assumptions. Guaranteed loans may be made to refinance either existing RHS Guaranteed Housing loans or RHS Section 502 Direct Housing loans. Guaranteed loans are amortized over 30 years. The interest rate is negotiated with the lender.
Contact your local office of the U.S. Department of Agriculture Rural Housing Service at
www.rurdev.usda.gov

59) $200,000 to Buy Or Fix Up Homes In The Country

Called “The Farm Labor Housing Loans and Grants Program” and referred to as Program #10.405 in the Catalog of Federal Domestic Assistance, this program provides decent, safe, and sanitary low-rent housing and related facilities for domestic farm laborers.
The loans and grants may be used for construction, repair, or purchase of year-round or seasonal housing; acquiring the necessary land and making improvements on land for housing; and developing related support facilities including central cooking and dining facilities, small infirmaries, laundry facilities, day care centers, other essential equipment and facilities or recreation areas. Funds may also be used to pay certain fees and interest incidental to the project. Restrictions on the use of funds are: The housing must be of a practical type and must be constructed in an economical manner and not of elaborate material or extravagant design. Housing financed with labor housing loan or grant funds must be occupied by domestic farm laborers and their families.
Loans are available to farmers, family farm partnership, family farm corporation, or an association of farmers. Loans and grants are available to States, Puerto Rico, the U.S. Virgin Islands, political subdivisions of States, broad-based public or private nonprofit organizations, federally recognized Indian Tribes and non- profit corporations of farm workers. Grants are available to eligible applicants only when there is a pressing need and when it is doubtful that such facilities could be provided unless grant assistance is available.
Contact your local office of the U.S. Department of Agriculture Rural Housing Service at
www.rurdev.usda.gov

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