Equity Home Loans

where can I get first time home buyer loans?

if I have no credit or not good credit what would be best interest to in order to get a loan for a home. Does this meet a ceartain finanacial level? Name websites or toll free numbers or a addresses where I can get free information on this. Thanks.

Public Comments

1. there is a program called The Fannie Mae or could be spelled Fanny May , but the help first time home buyers with a reasonable loan with easy cheap payments , just Google Fannie Mae and it will help you with what your lookin for .
2. you should do your best to clean up your credit before attempting to buy a home. It is not difficult to find a loan, but the better your credit the lower your interest rate will be. AVOID ARM'S (Adjuastable rate mortgages) and Balloon loans (Interest only loans) If you have a sizable chunk of money saved to make a down payment on a home, you are good to go with fannie mae or freddie Mac, but if you do not have 20% of the asking price for homes you are interested in than they may not be able to help you. You might want to consider FHA or VA (if you or your partneris a veteran) wich will let you put as little as 5 % down payment on a house, however you will have to pay PMI (Private mortgage insurance) untill you have built up 20% equity in the home A great book on the subject is Home buying for dummies, you can get it used at amazon for like 2 bucks it is really worth it http://www.amazon.com/gp/product/0764553313/104-9265478-8434313?v=glance&n=283155 they have all kinds of website listed in there...