As homes across the nation fight for attention in a buyer's market, first time buyers try to figure out the best ways to access funds. The variety of mortgage options has grown so much in the past decade that the 30-year conventional loan isn't the standard it once was. While the market cooled with a decrease of sales in the first half of 2007, analysts predict a gradual increase, as the need for homes never disappears.

The biggest challenge for anyone looking at homes on the market for the first time may be coming up with a big enough down payment, or obtaining a good interest rate. Fortunately, both federal and state governments offer programs designed to make homes more accessible to these first time buyers.

The US Department of Housing and Urban Development (HUD) offers numerous programs to make homes in revitalization and low-income areas more attractive and accessible. There are programs for hurricane evacuees, public housing residents and Native American Indians. One of the most popular programs at both a state and national level is what HUD calls the Good Neighbor Next Door Program. This offers homes at a 50% discount to teachers, police officers and other public servants if they commit to living in the area for 36 months.

The California Housing Finance Agency (CalHFA) offers similar programs to help teachers buy homes in local communities. The Extra Credit Teacher Program and the School Facility Fee Program offer down payment assistance, second loan forgiveness and grants to apply to the costs of buying a home.

Other innovative programs to help buyers obtain homes in high priced markets are also available. CalFHA recently introduced a 40-year fixed rate loan. This will benefit first time buyers with lower interest rates, lower monthly payments, and better chances of getting more potential owners into homes.

Specific areas of the country, like New Orleans with assistance for hurricane victims, are offering targeted loan programs to help people better afford homes. Los Angeles County residents can use CalFHA loans for homes costing up to $591,272. The limit is even higher for homes in targeted homes areas. The San Diego Housing Commission also offers first time buyers help with down payments and deferred second mortgage programs.

While loans for homes programs differ from state to state, a knowledgeable mortgage lender will be able to point you in the right direction. Remember, there are a lot of people out there who want to help get first time buyers into homes of their own. And there are a lot of programs to support that goal.

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