Buying a home in an area hurt by defense cutbacks can be difficult. The U.S. Department of Housing and Urban Development (HUD) offers the 238c program to help families undertake homeownership in military impacted areas. HUD insures lenders against loss on mortgage loans. These loans may be used to finance the purchase of proposed, under construction, or existing one- to four-family housing, as well as to refinance indebtedness on existing housing. (14.165 Mortgage Insurance-Homes-Military Impacted Areas 238c) . For more information contact your local HUD office or check out the program online at www.hud.gov
Income Eligibility: None
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