Hereâs a myth that many people need to stop believing: âNot everyone can buy a home.â Why is that a myth? Because HUD.gov, the U.S. Department of Housing and Urban Development website, can show you several paths to owning a home, regardless of your income.
Buying A Home Through HUD.gov
Youâll be hard-pressed to find a more trustworthy or information-filled website than HUD.gov when it comes to buying a home. This is crucial since thereâs so much misinformation out there and scams waiting to steal your info or hard-earned cash. How can HUD.gov help you? Have a look.
Discover How You Can Purchase A House With Minimal Income
Thereâs a common misconception that you need to make a high income and have a ton of savings to become a homeowner. Can having such income and savings help and make the homebuying process easier? Sure, but HUD.gov can show you ways to buy a home despite a lack of income and a hefty down payment.
There are several homebuying programs geared towards low-income families. If you qualify for a housing voucher, you could use that to buy a home instead of lowering your rent. If youâre a teacher, police officer, firefighter, etc., you could use the Good Neighbor Next Door program to buy a cheap home, even with limited funds.
Beyond those federal programs, you could also have homebuying assistance through your state. Visit HUD.gov, and you can connect to all of these possibilities.
Learn About The Homebuying Process
Buying a home can be fun, but it has so many steps that can make it intimidating as well. How much of a home can you afford on your income?
Where can you find loans, even though your credit isnât great and you have limited savings? What are your rights as a homeowner? How can you tell if youâre being discriminated against or in the presence of a predatory lender? These are all things you must know about before buying a home, and HUD.gov can cover all of those topics and more.
Find A Housing Counselor
While itâs essential to learn about buying a home so you know what to look for, you may want expert support by your side, so youâre not susceptible to scams or other issues. HUD.gov can help you find a housing counselor who can provide such assistance, so you donât feel all alone during your homebuying journey.
See What To Look For When Shopping For A Home
Just because a house looks good and is in your desired area doesnât mean itâs the right property for you. You should look for several things when shopping around for a home, which HUD.gov can reveal. And once you have that home picked out, HUD.gov can also help you find an ideal loan, home inspections, how to close, and more.
To see all of HUD.govâs homebuying resources, go here.