How You Can Qualify for Low Interest Rate Loans to Afford a Home
If you’re currently struggling to make ends meet or you otherwise don’t have the cash necessary for a large down payment, your dreams of homeownership may seem out of reach. If your family is expanding and you really need the space, don’t write off homeownership because of your finances. With the right caring and quality service, you’ll discover there are manageable loans for struggling families to help them purchase their own homes.
Loans such as FHA are standardized by the government, which makes it easier for struggling families with good credit to qualify. As long as you can comfortably make the monthly payment, you can enjoy a low interested loan that qualifies for refinancing in the future if you need to adjust your monthly payment or make renovations. If you or your spouse is a veteran, ask about fixed rate and adjustable rate VA loans as well.
USDA Rural Housing Development Loans
In an attempt to attract more families to rural areas, the USDA offers 30-year fixed rate, 100% of appraised value loans to families looking to buy qualifying properties. This is an especially flexible program when you consider that other government loans have a maximum value.
Schedule an appointment with a financial counselor to learn about your loan options. If your family is on a fixed income, homeownership is possible with the right loan programs.