Steps to affording a new home on a limited budget

Written By Steps To Faculty Published June 2nd, 2010

Like many, you may be concerned if you can ever reach your long-term goal of homeownership. The ability to have a home is still a dream of many Americans and other abroad. But given the soaring cost of houses and with the average cost of a home being $210,500 in today’s market, the reality of having a place of your own may seem elusive. Here’s what you can do.

Step 1 Forget a mortgage

Did you know that the federal government has a program called the FHA Home Purchase Loan Program? The program enables you to be able to buy a home with on a 3.5% to 4% down payment and is easier than you think to get. In fact, the program has less paperwork than most mortgages. Go to to get more information about this revolutionary program that has benefited million of other first time homebuyers.

Step 2 Consider going rural

If you earn a low-income or are just getting by, there is a government program through the U.S. Department of Agriculture that helps you purchase land in rural or less densely populated areas in the United States. Although such a move may seem daunting, a change in scenery can prove beneficial for you in the long run if your commute time is still reasonable. Or you may decide to enjoy life in the slow lane. For more information about this exciting program please visit

Step 3 Get a short sale

The foreclosure market is doing well and many existing homeowners cannot keep up with their monthly payments or are ready to abandon their homes altogether. So why pay full price for a home that you can get a 10% – 80% reduced price on. Consider short sales.

Step 4 Include the cost of repairs in your loan

The U.S. department of Housing and Urban Development (HUD) has a program, called 203(k) that enables buyers who would like to purchase or refinance a home that requires extensive repairs to include these costs into the loan. More information and the application can be found at

Remember, help is available to help you reach your goals.

Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.