Obtaining a mortgage loan is frustrating and can be difficult. You want to be sure you get the best deal, with the lowest interest rate possible. Sometimes, the amount required for the down payment is also a big concern. Then of course, you want to be sure there are no early payment penalties, and that the interest will stay low throughout the term of the loan. There are many different mortgage loan programs available. You may qualify as a first-time buyer, be able to obtain a veteran's loan, or get a Fannie Mae or Freddie Mac loan. However, there are other mortgage loan programs you should look into as well; here are just a few.

Good Neighbor Next Door 

If you are a teacher, law enforcement officer, EMT, or a fireman, you may be able to purchase a home for 50 percent of the asking price with the Good Neighbor Next Door mortgage program. You must buy the home from the Housing and Urban Development (HUD) department. When you go to settlement, you will take out a second mortgage, through HUD, for one-half of the price of the home. You do not have to pay anything on this second mortgage for the first three years as long as you live in the house as your permanent residence. After three years, the second mortgage is waived and you no longer owe that money. You can then sell the place or continue to live there.

USDA 

If you are considering, or willing to live in a rural area that has less than 35,000 residents, you may qualify for a loan through the US Department of Agriculture. This program was designed for lower-income people. While you do have to meet the income requirements for the home and area, they are less stringent than other loans. You will receive help paying the mortgage for a portion of the loan term. This is to help get you started. You must live in the house, you cannot buy an investment home with this program. In addition, if/when you sell the property you will need to pay back the subsidy amount with the proceeds from the sale.

Mortgage loan programs are there to help people become homeowners. While there will always be special requirements to a program, the help they offer is more than worth any hoops you may have to jump through to qualify. Talk with a reputable real estate agent to find out which programs you should apply to.