Know the Types of First-Time Buyer Loans Available. Fannie and Freddie 3% Down Loans – Fannie Mae and Freddie Mac are the two largest buyers of mortgage loans. In order to compete with FHA loans they launched a 3% down payment program called a conventional 97 mortgage.

Trump, who has vowed to fight for working-class Americans, signed an order during his first hour in office blocking an Obama initiative that would have cut the cost of mortgages for millions of home.

The Obama administration kicked off a new program Wednesday that's designed to help up to 9 million April 13, 2009 – In addition to the Obama mortgage and other homeowner relief programs, 2009 also brings with it a tax break for first time home buyers. If you are contemplating an FHA loan on your first home, there’s never been a better time to buy thanks to the $8,000 tax credit offered to those who qualify.

The Obama administration enacted the federal first-time home buyer tax credit in 2008. Created as a response to the 2008 financial crisis, the Housing and Economic Recovery Act (HERA) allowed new home buyers to get a tax credit of up t0 $7,500 during the first year of the initiative.

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