Final answer:
Websites providing down payment assistance information include government sites detailing programs like the FHA and the American Restoration and Recovery Act. These programs help low-income families and can lower the traditional 20% down payment to as little as 0-3.5%, sometimes requiring mortgage insurance.
Step-by-step explanation:
Information on programs that assist home-buyers with down payment assistance can be found on various websites, including official government sites. For instance, the Federal Housing Administration (FHA) offers programs to help lower-income families qualify for federal housing assistance, which can include down payment assistance. Typically, while a 20% down payment is recommended, there are options for a down payment as low as 0-3.5%. It is important to note, however, that lower down payments may require additional costs like mortgage insurance.
When looking for down payment assistance, you should look into government programs such as the American Restoration and Recovery Act, which provides tax credits to homebuyers, or the FHA, which has been instrumental in increasing homeownership rates since the Great Depression. These programs are often aimed at boosting homeownership and making it more accessible and affordable. Additionally, local housing authorities and state governments may also have resources and programs to assist homebuyers.