Home loans for single mothers are available through many programs out there. If you are currently a single mom looking for programs that offer home loans for single mothers, this article is dedicated to you as it will provide an updated list of corporations out there they are doing just that so you don’t have to go through the stressful process of trying to find a program that is not a scam. So lets cut to the chase, the next section will provide you with 3 different programs that offer home loans for single mothers.
Home Loans For Single Mothers – 3 Programs
- The first one which is a very accredited way to get home loans for single mothers is called Housing for Humanity. This program will provide loans to those who qualify for their program, and will cater to your financial situation by providing you with a very low monthly interest on your payment plan. For this program, you will need to be a US citizen, have a steady income, have a savings account, have good credit and lastly have a monthly income that falls between both the minimum limits and maximum limits.
- The next option to consider when looking for home loans for single mothers is to apply for the United States Department of Agriculture home loans program. This program is an excellent resource when looking for home loans for single mothers and offers benefits like getting you into a home with little or no money down, offering easier qualification when applying for loans compared to other programs, very low mortgage insurance premiums, flexible credit guidelines as well as a possibility of having your home repairs be included in the mortgage.
- US Department of Housing and Urban Development is also a widely used program for finding home loans for single mothers. They will help you figure out what you can afford based on what you earn along with getting your the best down payment option available to you. Some of the benefits of going through HUD for home loans is that you can have a bad credit history and still be eligible meaning that almost anyone can get a loan, little or no adjustment to the interest rate, down payment as small as 3.5 percent, no repayment penalty, funding for home improvement, possible leniency during tough times when it comes to your financial situation, they also make it easier for you to use gifts when it comes to down payments and closing costs.
Home Loans For Single Mothers – Conclusion
When it comes to home loans for single mothers, these are 3 of the most widely used methods to obtain loans. No matter what your situation is, one of these programs will likely be able to provide the funding you need to get into a great house with your kids. These home loans for single mothers methods mentioned above are also legitimate ways when looking for loans, and have been providing reputable service for years, so you know you won’t become a victim of a scam.