Obtaining your first home may not be as difficult as you think. Today, renters have more options available than ever. First, lenders offer a wide variety of programs to fit practically anyone's mortgage needs. Second, Uncle Sam encourages you to invest in your future by providing home-ownership tax incentives.

Down payments
There are mortgage plans available that help you purchase a home with little or no money down. Also, there are new sources of down payment money. You may use penalty-free withdrawals from traditional IRA or new "Roth IRS Plus" to help with the purchase of a new home. The withdrawal may come from buyer's own account, spouse's account, or a parent or grandparent.

Of course, other sources of down payment funds remain available such as gifted money from parents and relatives.

More good news... Tax deductions
* Buyers can deduct interest on mortgage payments.
* Buyers can deduct points paid at settlement by either buyers or sellers.
* Buyers can deduct real property taxes.
* Buyers can deduct mortgage interest and property taxes on a vacation home.
* Buyers can deduct moving expenses if they move because of a new job or job transfer.
* Home offices can be another source of tax deductions.


All in all, buying a home has become simpler and less costly.