If you want to rent, fine. I'm not hell bent on buying, but right now it can be a lot cheaper. Because the rental market is so strong rents have risen about 3%. Meanwhile, houses are less expensive than they were and interest rates are so low. In a lot of cases the same exact type of home is $800-$1500 cheaper per month to buy than to rent! People buying foreclosures get in with very little down payment because of the DSELP Program.  DSELP is the Downpayment and Settlement Expense Loan Program that helps eligible borrowers by funding a portion of their closing costs. Individuals or families who are approved to purchase a home using a CDA first mortgage loan (a lower interest loan) can apply for a DSELP.