More barriers are going up for people trying to buy a home. Nonpermanent residents will no longer be eligible for government-backed loans, according to one of several new directives from the White House. Starting May 25, nonpermanent residents such as DACA recipients, also known as Dreamers, or p eople in the U.S on work visas, will not be eligible for FHA loans. These loans are typically more accessible for lower-income individuals or those with lower credit scores. Industry leaders are also watching for the potential impact of a directive from the Federal Housing Finance Agency that could bring an end to Special Purpose Credit Programs. These programs have helped cover down payments and closing costs, which have been critical for many first-time homebuyers. “These programs have been in place to be able to help a large percentage of the population that may not normally qualify for a home, qualify,” said Diana Sumberlin, a loan originator and broker with Dynasty Lending Group. “So that changes now. And that’s kind of heavy on the industry and on homebuyers in general.” With fewer assistance options, Sumberlin says buyers will need to take additional steps to become eligible. That includes building credit and saving more to cover home-buying costs. There are programs to help buyers with readiness. The National Association of Real Estate Brokers is hosting a Wealth-building workshop as part of a 100-city tour on April 12th. Learn more here. The national nonprofit Greenpath Financial also offers free credit counseling. If you’re in Dallas, the Innercity Community Development Corporation offers homeownership counseling. You can also access free homebuyer education resources from the Texas State Affordable Housing Corporation. ...read more read less