If you’re a single mom and a first-time homebuyer, you can find help through various homebuying grants and housing programs. They may not be labeled “single mom” or “single parent” programs because they’re designed to help anyone with financial challenges achieve homeownership.
- Homebuying programs in your state
A great place to start is by researching the programs sponsored by your state or local government. HUD provides a comprehensive list by state with links to assistance programs, HUD homes for sale and homeownership vouchers.
- HUD’s special homebuying programs
In addition to providing mortgage insurance on FHA loans, HUD provides housing support with these special programs:
- Good Neighbor Next Door (GNND): Through GNND, law enforcement officers, teachers, firefighters and emergency medical technicians may receive a substantial incentive in the form of a discount of 50% from the list price of a home located in a revitalization area. Check the HUD home listings for your state.
- Homeownership for public housing residents: A Public Housing Authority (PHA) may sell public housing units to their residents and other eligible low-income families in their communities for purposes of homeownership. Contact your local public housing agency for more information.
- Habitat homeownership
Since 1976, Habitat for Humanity has helped more than 39 million individuals and families achieve strength, stability and self-reliance through shelter. At Guild Mortgage, we believe in Habitat for Humanity’s vision of a world where everyone has a safe, affordable place to call home. That’s why we’ve partnered with San Diego Habitat since 2014. Guild Mortgage and our employees have contributed thousands of dollars in donations and hundreds of volunteer hours. Anyone can apply to be a Habitat homeowner. If you’re looking for housing help and are willing to be an active participant in building a better home and future for your family, you can learn more about applying with your local Habitat.
According to The Mortgage Reports, your best resources for homebuying help are “your local housing finance agency, your real estate agent, and your loan officer.” Since 1960, Guild Mortgage loan officers have been helping people find the right home loan for their financial situation. So even if you don’t think you’re in a position to buy today, we might be able to help. There are many resources for single moms and dads who need grants or down payment assistance to get into their forever homes.
Let’s start with a conversation to see what might work for you. Find a loan officer near you.