The U.S. Department of Housing and Urban Development (HUD) has an informative webcast program to educate you about buying a home:

http://www.hud.gov/webcasts/index.cfm

Also try this link for an informative HUD outline on the home buying process:

http://www.hud.gov/buying/index.cfm

Do you qualify for a Down Payment Grant? The Enterprise Foundation is a nationwide charity working with cities around the country to provide down payment grants to first time home buyers. Check out Enterprisefoundation.org. Also check for similar "bond" programs in your area by calling your local city or county housing authority and ask about down payment bond programs. The money comes from city or county sponsored bond offerings. It may be easier to qualify than you think. If you're a teacher, firefighter or peace officer, you may be pleasantly surprised with the income qualifications. You can find loans inside on The Loan Matrix using down payment grants. Just look for the type code "Grant".

Check back here for free online home buying seminars sponsored by eRateLock.com Topics will include the home buying process, financing opportunities for first time home buyers, how to take advantage of home buying grants offered through charitable organizations, cities, counties and states, how to purchase a home with nothing down and no cash due at closing, and more.

Quick Hint: When purchasing a home, your "Pre-Paid" costs are items that include taxes and insurance that must be pre-paid up front at closing. These costs can add up to thousands of dollars. You are expected to pay this in cash at closing.

Try this instead. When writing the offer on the home you are buying, ask your Realtor to include a "3% Seller contribution towards Buyer's costs." This means the seller must pay your costs (including pre-paid costs) with a contribution of up to 3% of the sale price- $4,500 on a $150,000 house. That's $4,500 in cash that you no longer have to bring to closing. The worse they can say is no. They frequently say yes, especially if yours is the only offer on the table.