YSK: If you are a millennial complaining about not being able to afford a house because rent is too high... a lot of states offer down payment assistance on your first home.

I see a lot of millennials complaining about not being able to afford a house. And I remember feeling the exact same way but not realizing that there were actually government programs that are meant to help you in that situation.

Here is a link to find the various programs available in your state:

I'm 31 years old so I'm in the older range of millennials. When I graduated college I moved to the town of my dreams, found the girl of my dreams and wanted to settle down in the home of my dreams. But I was paying about 1000 dollars a month in rent and found saving for a home was difficult without moving to really bad neighborhoods to decrease my rent.

It was frustrating because I knew a house would actually be more affordable and help me build capital. But when most financial advisors say you should have 10-20% of the price of the home saved up for a downpayment that seemed impossible. I was only able to put away less than 100 a month. And most homes in my area were 80-100k on the cheap end.

I had no idea there was a state program for this exact situation until a friend told me about it.

In my state of Michigan it's called MSHDA but other states have similar programs. They are known nationally as FSA loans.

It basically covered my down payment up to 7500 bucks as long as I was able to put down 1% on the house. It's not a grant. It's a loan. But it's interest free and I don't have to pay a dime on it until the rest of my mortgage is paid off.

There were a few extra hoops to jump through...

Like you can't use it to buy fixer uppers. They required the house be in a livable condition. And they're strict about it. They'll inspect the house you plan on buying and if it has so much as chipped paint they won't give you the loan.

And I believe there was also a penalty if you sell your house within 7 years. The intention is to get people living in houses. Not flipping them.

You are also limited on the price of the home. For us the limit was 200k. But it went up and down depending on the price of homes in your county.

We also are required to pay a bit more on our mortgage. Some sort of insurance that's required for FSA loans.

But they were all worth it. I now pay about 800 a month for my house. And it's more spacious than any apartment I've ever lived in. And I'm so happy that I have a house to raise my family in.