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First Time Home Buyer Programs With Bad Credit Obama announces plan that could save home buyers hundreds of dollars a year – Since the housing bust, lenders have been turning away buyers by demanding unusually high credit scores. news for first-time home buyers in years.” The FHA does not make loans. It insures lenders.First Home Mortgage Interest Rates Grant For First Time Home Buyers There are many loan programs and grants that cater to first-time home buyers, especially on the state and local levels. While a person who has never owned a home before certainly counts as a.