Home loans are available through many different sources, including mortgage banking companies, commercial banks, community banks, credit unions, mortgage brokers, and other financial institutions.
To find a lender, you can:
ü Contact your bank or financial institution. Sometimes lenders can offer better mortgage terms to current customers.
ü Consult a non-profit housing counseling agency in your area (see Federal Programs below).
ü Ask family members, friends, and coworkers.
ü Ask your real estate agent.
Additionally, there are many government programs that offer home loans and/or assistance to home buyers.
There are a variety of homebuyer assistance programs sponsored by the federal government including programs that offer down payment assistance for low to moderate income home purchasers; mortgage insurance programs; special home loan programs for veterans, teachers and law enforcement officers; and loans to help revitalize inner-city housing. The Department of Housing and Urban Development (HUD) has established a network of HUD-approved housing counseling agencies that can provide information on federal programs and give you advice on buying a home, resolving credit issues, and other related issues. For more information, contact HUD at www.hud.gov or 1-800-569-4287 to find a HUD-approved housing counseling agency in your area. Mortgage brokers and lenders should also be able to provide information about federal homebuyer assistance and home loan programs.