Thanks To Single Mother Housing Assistance, You Can Own Your Own Home

Providing a home that is safe and warm is of paramount importance when raising a family. Sadly, for single mothers, this is not necessarily an easy task. Our economy is designed to fit a dual income household, and a single mother simply does not have that to work with.

If that mother is unemployed or underemployed, the task becomes next to impossible.

However, thanks to the many single mother housing assistance programs available, there is a light at the end of that tunnel.

Federal and state funded programs are designed with these households in mind. The American Dream Down Payment Initiative, or ADDI, for example, is a federally backed program that provides up to $10,000 in fees and closing costs for low income families buying their first home.

This is a great program, because many women can make the monthly payments, but never get the chance because they cannot afford the costs of getting the mortgage in the first place. This initiative can make a single mother a home owner, giving her a chance to build her credit and her equity.

Other single mother housing grants come from privately held non profit organizations, like St. Vincent de Paul. This is an organization that employs many volunteers who are looking for a spiritual reward for helping others in their community, and they do help others in many different ways.

One of these ways is to supply financial advice and assistance to single mothers struggling to purchase a home or to hold on to the one they have.

Monies are awarded on a case by case basis to those in needs.

If you are a single mother looking to purchase a new home, you may or may not have the credit history that most lenders look for when approving mortgages.

You may also appear to be a risk simply because you are the lone bread winner.

Even if you have a good job, the lender is aware that you could lose that job and without a spouse, you have no safety net for making those house payments.

Home loans for single mothers are available to suit your specific needs and circumstances.

Many of these programs are state funded, like the ARRA Homelessness Prevention And Rapid Re-Housing Program in New Mexico. This is a program that targets specifically high risk families run by single mothers who have endured and escaped domestic abuse situations.

The designers of this program understand that these families are at high risk of homelessness, due to the many issues they are dealing with, and a mother in this position needs support and guidance.

This program provides these things, as well as financial assistance in obtaining a mortgage for a home in a safe area that is well kept.

The United States Department of Agriculture Rural Development is a federally funded program designed to help families run by single mothers while also benefitting rural communities. This program offers guaranteed housing loans for low and medium income families who choose to build new homes in rural areas.

http://www.singlemotherassistanceinfo.com/