Federal officials announced two new programs Tuesday aimed at making it easier for consumers and small businesses to get loans.

Treasury Secretary Henry Paulson says $600 billion will go to fund new mortgages to stimulate the housing market and thaw the credit market for consumer debt. Another $200 billion will be lent to holders of securities backed by various types of consumer loans. It will be supported by $20 billion of credit protection from the $700 billion bailout package that was enacted last month.

Tyrone Ferdinando, of Huntington, says he hopes the increased liquidity will turn him from a renter into a homeowner. "Just the money that I?m spending on rent could go toward my mortgage and I'd have something for my future,? he says.

Credit card customers are also likely to see some relief. With government backing, it?s more likely card issuers will restore lines of credit and possibly make it easier for people to get credit cards.

And student loans, which virtually came to a halt last month, should start flowing again with the new programs.

AP wire reports contributed to this article.