Is there any help for mom for housing? If you spend much time online you will see ads for these, but like all grant opportunities, you are best off by doing thorough research before you jump on the bandwagon for housing help.
What are my options for Housing Help?
- 1 What are my options for Housing Help?
- 2 Home Grants for Single Mothers
- 3 Reforms and Loans for Housing Assistance
- 4 Housing for Single Mothers with No Income
Housing Choice Voucher Program
While it is not technically a program of housing grants for single mothers, the Housing Choice Voucher Program offered by the Department of Housing and Urban Development (HUD) can be the answer to many single moms’ housing concerns. This program assists low-income families in finding safe and sanitary housing. Many single moms qualify simply because of their income constraints.
Under the Housing Choice Voucher Program, applicants receive a voucher they can use to find housing. They may use the voucher for any type of rental unit, as long as it meets minimum standards for health and safety. The Public Housing Agency will pay the voucher amount directly to the landlord. You may end up with a portion of the costs as well, depending on how much your rental costs. There are also instances where families can use their vouchers to purchase a small home, rather than rent, but this must be authorized by the PHA. Eligibility is based on income and family size.
Home Grants for Single Mothers
USDA Home Grant Program
If you are looking for housing grants for single mothers for home repairs rather than a purchase, and you live in a rural area rather than an urban one, you may be able to get help from the USDA. They offer grants for single mothers and other low-income individuals to use to rehabilitate and repair their housing. The grant portion of this program is only available to those aged 62 and older, but the loan is quite affordable, repayable over 20 years at just 1 percent interest. The Rural Repair and Rehabilitative Loan and Grant (http://www.rurdev.usda.gov/) is available in amounts of up to $20,000 for loans and $7,500 for grants.
USDA Direct Housing Loans
This is a type of section 502 loans that is basically used to find housing help in rural areas. It is available to low income individuals to help them:
- Build a new house
- House repairs
- Renovate a home
- Relocate a home
Many single mothers fit the criteria of receiving such a loan. The prime eligibility factor is that the applicant must qualify as low or very low income (AMI).
According to area median income (AMI):
- Below 50% of AMI is very low income
- 50 – 80% of AMI is low income
- 80 to 100% is moderate income
The loans are available for up to 33 years and there are some additional regulations that the house must fall under in order to be eligible for such a loan. You can find out more information from the USDA website or apply here: http://forms.sc.egov.usda.gov/efcommon/eFileServices/eForms/RD410-4.PDF
Reforms and Loans for Housing Assistance
Guaranteed Housing Loans
This is another loan type, with a different set of terms and requirements. In this type of loan, participants can have a higher income status (up to 115% of the AMI). You have to be able to afford mortgage payments, but it is okay if you are without adequate housing. You also need to have a reasonable credit history. This is another one to look into you fit the eligibility requirements better. Find out more.
Mortgage Reforms to Help Borrowers
There are new mortgage reforms that are being put into place to help protect borrowers. This is because many lenders were unable to have borrowers pay all their money back. A new rule includes a 3% cap on origination fees for mortgages of $100,000 or more. This will help borrowers pay back what they have loaned. It will also protect people so that there isn’t a debt to income ratio greater than 43%. If you feel you are qualified, go and talk to your loan provider and ask them about a reevaluation and ask them about new mortgage policies.
Housing for Single Mothers with No Income
Family Unification Program
Sometimes, lack of adequate housing can cause you to be separated from your children, or to face the imminent placement of your children into foster care. This is a heartbreaking situation, and it can be helped if you qualify for the Family Unification Program (http://portal.hud.gov/hudportal/). This, again, is not necessarily a type of home grant for single mothers, but it serves the same purpose.
Offered through HUD, the Family Unification Voucher allows distressed parents to lease or purchase safe housing through the private housing market. The vouchers are available based on income need and only if the public child welfare agency has determined that the housing is the only thing preventing the child from returning to the home. The vouchers will pay any housing costs above 30 percent of the family’s income. The 30 percent is the amount HUD expects the family to contribute for housing.
Use housing grants for single mothers to your advantage. They can really lower the costs needed for housing and such. Take some time to research them and to find some housing help for single mothers.