loan program

First-time homebuyers face several challenges when looking for a new home. They may not have an established credit history or may not have enough money to make the down payment that would qualify them for a traditional mortgage loan or the debt-to-income ratio may be too high to qualify for a traditional mortgage loan. What many early homebuyers don't know is that there are alternatives to traditional mortgage loans. Government grants and loan programs and even some financing options have helped millions of avid buyers become first-time homeowners. Here's a look at some of the biggest programs and how you can take advantage…