Government grants for single mothers for housing can help single moms with the housing down payment, mortgage payment, or closing costs. In general, in order to qualify for housing grants, a certain low income requirement has to be met.
Types of Government Grants For Single Mothers For Housing
- Federal Housing Administration – technically, the FHA is not offering any housing grants or loans for single moms. What the organization can do is to work with other lenders to help you with the down payment. The disadvantage of availing this government program as a single mother is the higher insurance rate, which is elevated for the lender’s ‘protection’. Furthermore, do not expect to be accepted for this program if you do not have a job or at least a sufficient income. Credit history is not an issue here; the more important thing is that you will be able to prove that you are capable of paying the grant back.
- Rental Assistance Programs – since the Federal government technically does not give any housing loan to single moms, the closest you can get to a house grant is by applying for a Section 8 or similar public housing schemes. Like with the Federal Housing Administration, a single mom should have a stable job, the ability to pay for the loan and an outstanding credit history.
- State Grants – although the government grants for single mothers for housing are limited, some states offer this kind of housing programs to their locals. As with other government grants, most of these housing grants are income based and your chance of approval usually depends on your annual income.
Applying For A Housing Grant
In general, government grants for single mothers for housing is not a guaranteed cause. Nevertheless, you can always try and apply for a grant if you know you are eligible for one.
The key is starting early with the application. As long as you are of age (18 years old), you can start putting your name on your choice organization’s waiting list. Having your name already listed will give you a greater chance of getting an application slot.
Always remember that as a state citizen, you have all the rights to apply for a grant, given that your level of income does not go beyond the approved guidelines. In conclusion, you just have to have faith in the government. Yes, it is true that not anyone can get a chance for one of the government grants for single mothers for housing, but who knows, maybe you will be the lucky one this time.