Single Moms Housing Grants

It?s by no means simple sustaining a family home at the best of times, but when you?re a single mom, this process becomes a lot tougher. With the government realising this challenge, there are a variety of federal support programs intended to aid single moms, in the form of housing grants.

Here are two examples of single mothers housing grants that are worthy of 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 aims to aid low income families. This is accomplished 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, as long as the house is deemed to be practical and suited to your needs.

There are certain requirements 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 obtain your eligibility and apply, you should contact your local PHA (Public Housing Agency)

The American Dream Down payment Initiative (ADDI)

When looking for grants for single moms, this scheme is often thought-about, although not designed principally 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 support for closing costs
* Financial support for rehabilitation (eg proper removal of health hazards)

Like the previous grant, you must satisfy certain parameters 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 example)
* 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 sensible starting point, and an idea as to who can qualify. Get in touch with your local HUD for more information, or go to our website.

Visit our site for assistance for single moms, plus information and tips for housing grants.

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