 TITLE: How to Get a Home Loan With Bad Credit CONTENT: Savings for First-Time Home Buyers With Bad Credit\n--------------------------------------------------\nIf you have poor credit and are a first-time home buyer, you might also qualify for assistance programs. And don't let the title throw you off: The definition of \"first time\" varies. Even if you've bought a home before, you may still qualify as long as it's been several years since you last owned a home.\nLocal and state governments, along with nonprofit organizations, often run these assistance programs. The requirements can vary, but may include buying a home in a specific area, having a low or medium income, or working as a public service employee, such as a teacher or law enforcement officer.\nThe benefits also vary among first-time homebuyer programs. The programs might:\n*   Help you get a lower interest rate on your mortgage.\n*   Cover part of your down payment or closing costs.\n*   Offer you a no-interest loan to pay for your down payment or closing costs.\nTo find first-time buyer programs in your area:\n*   Look on your state's Housing Finance department website. Here's a directory of the states' websites.\n*   Go to the HUD page for your state and review the local resources and homeownership counseling options.\n*   Search the Down Payment Resource directory.\n*   Search \"first-time homebuyer programs\" online. Include the name of your state or county for more localized results. END