Credit unions are good places to obtain a mortgage loan for home.  These are very competitive with their terms because they are organized by certain groups of people like employees of a certain company, a labor union or any type of a religious group.  Credit unions offer savings, loans and many other financial services.  Their goal is to serve the financial needs of its members.

Federal agencies have helped many to become home owners.  The Veterans Administration is one such agency that will lend directly to people who have served in the military.  Normally their rates and terms are better than conventional lending institutions.  They generally offer loans in areas that have housing credit shortages such as rural towns and smaller cities.  GI loans are generally not available in larger metropolitan areas where there are more private lending institutions to choose from.

Another source of acquiring a home mortgage loan are called individual investors.  Similar to temporary housing, but they don’t outright own the property.  They help the home buyer to have the leverage of finances so they can go ahead and buy the home.  These are people that will put up the money for home loans, normally on a short term basis.  They also require a hefty down payment, like one-third of the total asking price.  Many developers may obtain these loans and also a second mortgage to cover the large down payment, especially in cases where it is impossible for the want to be home owner to come up with that kind of down payment up front.