you don’t need a minimum credit score, you don’t need to pay for private mortgage insurance, you don’t need a down payment, and the loans come with competitive interest rates. As a bonus, the VA can negotiate with the lender on your behalf if making payments on the mortgage becomes difficult for any reason.
4. Good Neighbor Next Door
The Good Neighbor Next Door program, sponsored by HUD, provides financial housing assistance for law enforcement officers, emergency medical technicians, firefighters, and elementary through high school teachers. You could receive a 50% discount on a home in certain regions (“revitalization areas”) and must agree to living in the home for a minimum of three years.
5. Fannie Mae/Freddie Mac
Fannie Mae/Freddie Mac are government-sponsored programs that work with lenders to offer mortgage options, including low interest rates and down payments are as low as 3%, for moderate- to low-income families.
6. Energy-Efficient Mortgage (EEM)
An energy-efficient, or “green,” mortgage is designed to help you add improvements to your home to make it more environmentally friendly. The federal government supports EEM loans by insuring them through FHA or VA programs. “The key advantage of this mortgage is that it lets you create an energy-efficient home without having to make a larger down payment,” explains Hartman. “The extra cost is rolled into your primary loan. Some improvements you can make include installing double-paned windows, new insulation, or a modern
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