Single Moms Housing Grants
It’s by no means easy sustaining a family house at the best of times, but when you are a single mom, this process becomes a lot harder. With the government realising this challenge, there are a number of federal support programs intended to aid single moms, in the form of housing grants.
Here are two instances of single mothers housing grants that are worth looking into further.
The Public Housing Agency (PHA) Housing Choice Voucher
This is a scheme set up through the government’s Housing and Urban Development (HUD) department, and intends to aid low income families. This is achieved by helping to locate a home that suits your particular requirements, and then a portion of your rent is then paid directly to your landlord, relieving the monthly burden of your rent.
This voucher can also be put to use towards the purchase of your home as well, provided that the house is considered to be realistic and suited to your needs.
There are certain criteria that need to be met to be eligible for these vouchers, and contain these terms:
* You must be an U.S. Citizen or an eligible immigrant
* Your family income must be below the Median income of your area (or area you wish to move to). These figures can be received from HUD.
* You must allow access to your banks, employers and agencies, for adequate assessment.
* Also, the HUD for your area must have met it’s legal targets, the primary one being that 75% of it’s funds are to go to families with incomes of 30% of the area’s median income.
To look for your eligibility and submit an application, you should speak with your local PHA (Public Housing Agency)
The American Dream Down payment Initiative (ADDI)
When searching for grants for single moms, this scheme is often thought-about, although not designed primarily for single mothers, but for low income families, so often single mothers can meet the requirements. The ADDI grant is presented only to first time homebuyers, and can provide the following assistance:
* Up to $10,000, or 6% of the purchase price of the house (whichever is larger)
* Financial assistance for closing costs
* Financial support for rehabilitation (eg proper removal of health hazards)
Like the previous grant, you must satisfy certain criteria to qualify, and these include:
* Be a first time home buyer
* Be looking to buy a family home (as opposed to an one bedroom flat, for instance)
* Have an income of below 80% of the area median wage (details can be obtained from your HUD)
There is more financial help for single moms available, but these two are a good starting point, and an suggestion as to who can qualify. Get in touch with your local HUD for more details, or visit our website.
Visit our site for assistance for single moms, plus information and tips for housing grants.
Processing your request, Please wait....
