The Community Reinvestment Act of 1977 is important to first-time homebuyers. Here's why:

The passage of the CRA law reaffirmed lenders' obligations to identify and respond to the credit needs of their local communities, including their low- and moderate-income neighborhoods. As increasing numbers of Americans of modest incomes find themselves unable to obtain affordable housing. Congress and the financial regulatory agencies are showing renewed interest in ensuring the ongoing responsiveness of financial institutions to the credit needs of their communities. CRA compliance has led to man productive local partnerships between lending institutions and their communities - partnerships that have improved the availability and affordability of credit in low-, moderate-, and middle-income neighborhoods.

Here's an example of 3 affordable CRA loan programs for first-time homebuyers:

The 2% Solution.

The 3% Solution.

Home Ownership Assistance Program.

Make a selection from your "Window of Opportunity" (left)