Are There Special Homeownership Grants?
As a single parent, there are many ways for you to get the financial help you need. If you are considering buying your first home then you need to read this article on single parent home grants.
Help with single parent mortgages are not as difficult to get as you might think. That is if you do your homework and find and apply for the right home grants for single parents. Below are some the steps you should take in order to get the help you need with securing a single parent home grant.
Familiarize
Start by becoming familiar with the general home buying system and understanding how a single parent home grant would fit into the process. Next select a good real estate broker. Even without a second income, you can still pre-qualify for a single parent mortgage or be awarded a home grant for single parents.
Contact Programs
Next step in the process is to contact a HUD (Housing and Urban Development) counseling agency in your neighborhood. These programs are often free of charge or have very low fees and have the latest information on applying for single parent home grants. Their staff members will also know the various area financial institutions that also offer single parent mortgages.
Research
Research buying a HUD home since they are often some of the best deals in town and make applying for a home grant for single parents that much easier. To find a HUD home contact your city’s or county’s housing development agency or a program that offers assistance for first time home buyers.
Do you Qualify?
Check to see if you qualify for a voucher. Another form of single parent home grant or assistance is the “Home-ownership Voucher Program.” This is program is an off-shoot of the much maligned “Section 8” low-income renters’ assistance program.
Administrated by the Department of Housing and Urban Development, this program does act like a continuing home grant for single parents. With a Home-ownership Voucher, a qualifying individual can have the money applied to a down payment for a single parent mortgage on any approved house.
Location
Living in extremely rural areas of the country can be especially difficult for hard working single parents. But for once being out in the “boonies” has its advantages. The USDA (US Department of Agriculture) has a plan called the Rural Development -Housing & Community Facilities Programs (HCFP).
Under the HCFP, you will find many single parent home grants and various other home-ownership opportunities, especially setup for single parents living in rural America. Not only does HCFP offer help with single parent mortgages but it also provides assistance for home repair and renovation.
