Single Family Repair Loans and Housing Grants
Every parent wishes for a secured roof for their family, but if you are a single mother juggling with responsibilities of parenting, job and running errands along with financial constraints then purchasing a home may seem an unfulfilled desire.
Single Family Repair Loans and Housing Grants.
The US Government understands the needs of the citizens and has thus. Initiated varied housing grants for single mothers to help pay off the extra expenses and encourage them for a decent and safe livelihood.
Even with thin bank balance single moms can now dream of a house with the grants that not only offer financial assistance. But also home purchasing advice and professional guidance for the process.
Make a thorough research. Take the leap and move ahead with your home ownership desire with the grants that suit you the best.
Grants for Single Mothers for Home Ownership
The grants enable mothers and their children reside under an affordable single roof through reduced payments of mortgage or low down payments.
Department of Housing and Urban Development
If you are a single mother in quest of home ownership, seek for grants and professional advice from HUD. It is a federal assistance program facilitating decent rental homes within the financial reach of the people. Moreover, it aims to develop the economy through improved living standards and quality of life.
HUD extends help to single mothers by offering professional counseling for planning the budget, application process, grants to avail, qualifying criteria and others. The grants are available through the state funding for the low and moderate income individuals that include single mothers too.
Habitat for Humanity
Habitat for Humanity envisages decent residence for all. For its fulfillment offers single mothers the opportunity to avail an affordable residence even with restricted income and low bank balance. Though not actually a grant, single mothers who qualify for the program can build their home partnering with a volunteers’ group.
Once qualified for the program, mothers are insisted to join classes instructing on home ownership, reasonable down payment, constructing home, timely monthly payments and others. However, to qualify you need to
- Be a US citizen
- Earn an income that fulfills the income prerequisites
- Have a sufficient savings account
Post building the house, a reasonable mortgage amount depending on the financial comfort ability of the homeowner needs to be paid by the single mother. So, if you are too seeking for home ownership contact the Habitat for Humanity and apply today for the program.
Federal Housing Association (FHA) Loans
The Federal Housing Association (FHA), Division of HUD, offers single mothers the luxury of only 3.5% down payment and avail 96.5% mortgage loan for purchasing a home. Completely insured by Federal Housing Association. The funds for the loan are given by financial institutions like banks or credit unions. Mothers can now avail benefits like:
- Low down payments
- Low closing costs
- Easy credit agreement for grants or loans
- No definite credit score required for mortgage loan approvals
- No rental history required
- Assistance at every step
AmeriDream Inc. – Down Payment Assistance for Home Buyers
AmeriDream Inc. is a financial gift for single mothers that has helped over 250,000 families to own a home and lead a descent life. It’s a charitable organization that has alleviated several lives by offering the required down payment, a grant that is not required to be refunded to AmeriDream. This has facilitated financially unstable mothers to buy reasonably priced homes and raise their children.
For single mothers AmeriDream proffers Homebuyer Education Program thus, helping them to understand, plan and decide for home purchasing. Moreover, it also offers Home Retention Program for distressed people experiencing divorce, job loss or long illness to retain back their home through the foreclosure prevention counseling.
Single Family Repair Loans and Housing Grants
Fannie Mae offers very low-priced residential properties through Home Path Properties program. Most of these homes are inexpensive due to foreclosures. A few are available with very low down payment and flexible mortgage terms.
Veteran Home Improvement Grants
After careful selection of the Veteran Home Improvement Grants program, compare your options and choose for the best one. Get the assistance of a professional adviser. Make a thorough research of the local grants available in your city and be rest assured on your decision to begin a life under a new roof with your family.