Are there any programs to help first-time home buyers? And for people who have decent incomes, but still find it difficult to bu

There are many programs. Most have income restrictions, but those may not be as low as you assume.Most lenders offer first-time buyer programs. Many feature low down payments, 5% or less, and some allow buyers to use borrowed funds or gifts to be used as a portion of even a reduced down payment. Some lenders also offer down payment assistance, typically in the form of a below-market-rate second mortgage, to help buyers for whom even a small down payment is a problem. But those programs are usually reserved for very low-income borrowers.Some non profits (Nehemiah Corp. and AmeriDream are the two best known) offer gifts outright to buyers of up to 6% of the sale price, with no first-time buyer requirement and no restrictions on income or the location of the property. But sellers in these transactions must make a donation to the fund equal to the amount of the gift, plus a processing fee.Programs for first-time buyers often feature higher qualifying ratios and lower down-payment requirements. The rule of thumb for standard mortgages is that a buyer's monthly housing payments, including principal, interest, mortgage and insurance, can't exceed about 28% of monthly, after-tax income; housing payments plus all other debt payments can't exceed 36% of their monthly, after-tax income.Some special loan programs increase those ratios, sometimes significantly. Many also feature more generous underwriting standards, for example, considering rent payments and other nontraditional sources to determine an applicant's capability to qualify for a home loan.Buyers whose incomes are too high to qualify for the above programs might consider Federal Housing Administration loans. These loans have no income requirements, and are not limited to first-time buyers. They also permit down payments of as little as 3%, all or some of which may come in the form of gifts from family members.However, limits on purchase prices may make this program less practical in states where housing costs are high.Another option available only to veterans - is a Veterans Administration loan, which has no down-payment requirement. The VA itself does not set a maximum, but the secondary market investors who purchase the loans will not consent to loans for more than $240,000. Because of the number and diversity of first-time buyer programs - and the intense competition in the mortgage market - don't assume you can't qualify for a mortgage. In addition to exploring some of the programs mentioned here, contact several lenders, including smaller, local institutions, to find out whether they offer any programs that might meet your requirements.