Yes. Many lenders now offer affordable mortgage options for the first-time home buyer. Some states and certain cities have programs that attract the first-time home buyer with sponsored assistance such as reduced closing costs, lower down payments, and assistance in dealing with debt.
An example is the City of Chicago that holds seminars for firsttime home buyers to assist them in obtaining these special mortgages and financial backing by the city. The City of Chicago’s Department of Housing (www.cityofchicago.org/housing) has tools to assist the first-time home buyer from deciding what to buy to actually getting a mortgage. It has partnered with nationally certified lenders in offering two programs, City Mortgage and TaxSmart, to provide financial benefits to eligible buyers. Other cities are helping first-time home buyers in the same type of programs.