Low-income homeowners who think they're stuck renting might be able to achieve home ownership through the U.S. Department of Agriculture's Rural Housing Direct Loan program.
This 100% financing program is federally funded, and loan proceeds can be used for the following:
* Purchase a new home.
* Purchase an existing home that is move-in ready.
* Purchase an existing home and repair or renovate it.
* Purchase a manufactured home.
* Prepare an undeveloped site and build a home on it.
Learn more about this program in my Interest.com article, USDA offers no-down-payment loans in rural areas.