Help Getting Into a Home

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As a single parent, you’d understandably want the best environment for your child to grow up in. This includes a safe home in a healthy environment, complete with rich local education and a strong social support group. With these financial resources, you can strive to get the best housing possible for you and your child(ren).
Buying a House
The dream of owning a house has the potential to become a reality with financial assistance for those who are eligible.
FHA Loans
The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders. It provides lenders with protection against losses, and the lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner's default. Loans must meet certain requirements established by FHA to qualify for insurance. 
Homeownership Vouchers
This program provides public housing residents and other low-income families that are first-time homebuyers with subsidies to use toward buying a home. Contact your local Public Housing Agency for additional information about this program.
Renting an Apartment
Certain families may be eligible for financial assistance when it comes to apartment renting.
Privately Owned Subsidized Housing
The US Department of Housing and Urban Development provides housing at reduced rents for low-income renters. Landlords receive subsidies, who then are required to adhere to certain guidelines for whom they can rent to. It’s meant to bridge the gap between what the tenant is scheduled to pay and the market rental amount of the apartment.
Public Housing
Public housing is property owned and managed by a government entity given to tenants who meet certain eligibility requirements.Only those applicants with incomes below a set level qualify to rent the apartments. This provides affordable rental rates for those with low or fixed income.

Look into each of these options to see which one is best for you. Some things to consider when you look for a house are finances and location, and one place may be better suited for your needs than another.

By: Tim Milles

Related Categories

  • Housing / Living Assistance

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