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Some Important Home Buying Assistance Programs For Single Mothers

Fully aware that rearing children is itself a full time job and one still needs to earn some money to offset bills, home ownership for a single mother can be quite daunting to say the least. In this regard, the government has come up with lots of grants and housing aids which are designed to not only place single mothers and their families under one roof but also significantly reduce their payments so as to increase their ability to pay off the mortgage in a timely manner.

Home Buying Assistance Programs For Single Mothers - How To Proceed

According to the National Association of Realtors, the average single mother home buyer is normally below 45 years of age and is gainfully employed. They usually buy a home according to their needs; these are usually room for growth family friendly environments, neighborhood safety, space and access to quality schools.

To get the best housing finance option, it is important to come up with a budget, decide on the type of house you want and also think whether you need a community that offers you a maintenance plan. You can achieve this by attending seminars, talk to a number of lenders or search online. Once this has been done, you should then decide on the type of financing that you need; whether it is down payment assistance, mortgage assistance or closing costs assistance.

Many states currently offer a wide array of state government programs which can provide grants that cover a significant part of the overall cost of the home or assist with down payments. Apart from these, the Federal government also does offer nationwide programs which are geared towards helping single mothers get a home. The government does offer housing loans for very low to moderate income persons in rural areas. To qualify, an applicant must have moderate, low or very low incomes. They should also show that they can afford mortgage payments and have been unable to get a mortgage through a different method.

The Housing Finance Agency is also a popular source of such grants. with their main purpose being to increase overall home ownership among special groups such as single mothers, they have offices in all states and are an ideal choice for clients who don’t have much cash and are keen on getting down payment assistance.

Apart from the government, there are also some religious service agencies such as the Bridge of Hope which has highly qualified personnel who assist families allocate funds for housing and also help them source for the funds as well. HUD does also coordinate the housing choice voucher program which does offer housing aid to low income families for the purchase of single family housing in a townhouse, apartment or any other structure. This subsidy award is normally determines as the rent less thirty percent (30%) of the gross monthly income for the household. These vouchers can be found from local public housing agencies that are near you.

Adjustable Rate Mortgage (ARM) Insurance does help individuals purchase single family homes for living purposes only. Because HUD doesn’t lend money directly to customers, they usually direct clients to FHA approved lenders who can loan you the money through several FHA insurance programs. Here are some of the popular home buying assistance programs for single mothers, they include but are not limited to the following:

Home Buying Assistance Programs For Single Mothers - Examples

1) U.S. Department of Housing and Urban Development (Section 8)  

Mailing Address: 451 7th Street SW, Washington DC 20410

Phone Number: 800-569-4287

Web URL:

Other Programs: this is the federal governments major program for assisting low income families and special groups to afford housing in the private market. Even though the main aim of the program is to help the family rent a house, applicants can be allowed to use the voucher to purchase a modest home. The eligibility of an applicant is usually determined by the PHA based on certain factors such as the total annual gross income as well as family size. This offer is limited to specified categories of non-citizens and US citizens.


2) Habitat for Humanity International

Mailing Address: 270 Peachtree Street NW Suite 1300, Atlanta, GA 30303

Phone Numbers: 1-800-422-4828

Web URL:

Other Programs: well known for its work, Habitat does offer families who need decent and affordable housing. To ensure success, prospective homeowners are expected to be citizens or legal residents, have a steady income, have good credit, earn a monthly income that falls within minimum and maximum limits depending on the size of the family and be able to sustain a savings account over a specific period of time. Further to the above, the homeowner must be able to make a reasonable down payment, be ready and willing to invest some sweat-equity house in building their home and other homes as well.

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