Single Mothers Housing Grants

Single Mothers Housing Grants

It’s never easy maintaining a family house at the best of times, but when you’re a single mother, this task becomes a lot harder. With the government realising this challenge, there are a variety of federal support programs intended to support single mothers, in the form of housing grants.

Here are two examples of single mothers housing grants that are worthy of looking into further.

The Public Housing Agency (PHA) Housing Choice Voucher

This is a scheme set up through the government’s Housing and Urban Development (HUD) department, and aims to assist low income families. This is done by helping to locate a home that fits your specific requirements, and then a percentage of your rent is then paid directly to your landlord, relieving the monthly strain of your rent.
This voucher can also be put to use towards the purchase of your home as well, provided that the house is considered to be practical and suited to your needs.

There are specified criteria that need to be met to qualify for these vouchers, and contain these terms:

* You must be an U.S. Citizen or an eligible immigrant
* Your family income must be below the Median income of your area (or area you wish to move to). These figures can be received from HUD.
* You must allow access to your banks, employers and agencies, for sufficient assessment.
* Also, the HUD for your area must have met it’s legal targets, the main one being that 75% of it’s funds are to go to families with incomes of 30% of the area’s median income.

To seek your eligibility and apply, you should contact your local PHA (Public Housing Agency)

The American Dream Down payment Initiative (ADDI)

When looking for single mothers grants, this scheme is often thought-about, although not designed primarily for single moms, but for low income families, so often single mothers can meet the requirements. The ADDI grant is presented only to first time homebuyers, and can provide the following aid:

* Up to ,000, or 6% of the purchase price of the house (whichever is larger)
* Financial support for closing costs
* Financial support for rehabilitation (eg proper removal of health dangers)

Like the previous grant, you must satisfy specific criteria to qualify, and these include:

* Be a first time home buyer
* Be looking to buy a family home (as opposed to an one bedroom flat, for instance)
* Have an income of below 80% of the area median wage (details can be obtained from your HUD)

There is more assistance for single mothers available, but these two are a good starting point, and an idea as to who can qualify. Get in touch with your local HUD for more details, or visit our website.

First Time Home Buyer Programs

Visit our site for assistance for single mothers, plus information and tips for housing grants.

Article from articlesbase.com

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House For Sale In South Yorkshire – Buy A House In South Yorkshire

House For Sale In South Yorkshire – Buy A House In South Yorkshire

If you are looking for a house for sale in South Yorkshire, you are in luck.  You can find many houses in this area that are priced to sell and get a good deal. You should take a look around and go online to pull up listings of houses in the area when you are looking to buy a house in South Yorkshire. 

 

There is a lot of work that has to be done before you can just buy a house in South Yorkshire. The first thing that you should do when you want to get a house it to take a look at what you can afford when it comes to monthly mortgage payments. You want to be sure that your payments are comfortable for you to make when you are looking for a house for sale in South Yorkshire. The last thing that you want is to get in over your head with your mortgage payments, so be sure that you look for those that are priced in your price range. 

 

Price is not the only thing that you have to think about when you go to buy a house in South Yorkshire. Take a look for a house for sale in South Yorkshire that will fit the needs of your family. You may want to have a certain number of bedrooms or other rooms in the house so that you have more space.  Most people prefer a lot of space when they are looking for homes as you can always do with an extra room. You can find a house for sale in South Yorkshire that has enough space for your family and is also priced in your price range. 

 

Baths are another thing to look at when you want to buy a house in South Yorkshire. You want to be sure that the house for sale in South Yorkshire has enough bathrooms to go around. Although many people will compromise on this, the general rule of thumb is the more bathrooms, the better. It will also be easier to sell the house again if you go to sell if you have more baths and bedrooms than less.

 

There are many things to look at when you want to buy a house in South Yorkshire. Take a pen and paper and write down what you find that you want in a home of your own. You then have to figure out how much you can afford when it comes to paying for the house. Once you have figured this out, you can take a look at a house for sale in South Yorkshire through websites that allow you to view the homes in the area according to price or other features and take your pick from the selection. You should have several in mind from viewing the homes on the market and can then make appointments with estate agents to see the homes so that you can then find one that you like enough to want to buy. 

 

First Time Home Buyer Programs

If you want to buy a house in South Yorkshire, you can find many for sale right online. To view a House for sale in South Yorkshire that is sure to fit your budget, you can go to HouseSaleUK. 

Article from articlesbase.com

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House For Sale In South Yorkshire – Buy A House In South Yorkshire

House For Sale In South Yorkshire – Buy A House In South Yorkshire

If you are looking for a house for sale in South Yorkshire, you are in luck.  You can find many houses in this area that are priced to sell and get a good deal. You should take a look around and go online to pull up listings of houses in the area when you are looking to buy a house in South Yorkshire. 

 

There is a lot of work that has to be done before you can just buy a house in South Yorkshire. The first thing that you should do when you want to get a house it to take a look at what you can afford when it comes to monthly mortgage payments. You want to be sure that your payments are comfortable for you to make when you are looking for a house for sale in South Yorkshire. The last thing that you want is to get in over your head with your mortgage payments, so be sure that you look for those that are priced in your price range. 

 

Price is not the only thing that you have to think about when you go to buy a house in South Yorkshire. Take a look for a house for sale in South Yorkshire that will fit the needs of your family. You may want to have a certain number of bedrooms or other rooms in the house so that you have more space.  Most people prefer a lot of space when they are looking for homes as you can always do with an extra room. You can find a house for sale in South Yorkshire that has enough space for your family and is also priced in your price range. 

 

Baths are another thing to look at when you want to buy a house in South Yorkshire. You want to be sure that the house for sale in South Yorkshire has enough bathrooms to go around. Although many people will compromise on this, the general rule of thumb is the more bathrooms, the better. It will also be easier to sell the house again if you go to sell if you have more baths and bedrooms than less.

 

There are many things to look at when you want to buy a house in South Yorkshire. Take a pen and paper and write down what you find that you want in a home of your own. You then have to figure out how much you can afford when it comes to paying for the house. Once you have figured this out, you can take a look at a house for sale in South Yorkshire through websites that allow you to view the homes in the area according to price or other features and take your pick from the selection. You should have several in mind from viewing the homes on the market and can then make appointments with estate agents to see the homes so that you can then find one that you like enough to want to buy. 

 

First Time Home Buyer Programs

If you want to buy a house in South Yorkshire, you can find many for sale right online. To view a House for sale in South Yorkshire that is sure to fit your budget, you can go to HouseSaleUK. 

Article from articlesbase.com

The Pros and Cons of First Time Home Buyer Loans: Are They Right For You?

The Pros and Cons of First Time Home Buyer Loans: Are They Right For You?

If you are looking to buy your first home in the near future (or at least the first one in the last three years) you may be considering a first time home buyer loan. For many individuals, a first time home buyer loan may be the only way they’re able to secure the financing needed to own their own home. While the specifics may vary from program to program, these types of loans offer a number of benefits by subsidizing interest, offering grants, allowing for a zero or low down payment, and imposing restrictions on the fees lenders are able to charge their borrowers. Loans can also be forgiven in some situations. Sounds good so far, right? But as with most good things, there are some strings attached which you may not be aware of.

First of all, first time home buyer loans place a cap on the purchase price of your home. As such, if you are looking to buy a more expensive property, these loans are not right for you. Instead, you will find yourself limited to more inexpensive, lower end options. Next, the home must also meet certain physical requirements. It must be in good condition and free of safety hazards. Another requirement is that you must physical live in the home you purchase (i.e. the home must be your “primary residence”). You can’t buy the home with explicit intention of renting it out. Moreover, if you sell your home too quickly, you may lose some of the benefits that the program offers and be required to pay a “recapture” tax on the benefits you received.

Given some of the restrictions imposed by first time home buyer loans, they are not right for everyone. Experts note that it is only with a FICO score below 680 that you will see any benefits to subsidized first time home buyer loans. If you feel that these loans are not a fit for you, you may be better off with a more traditional mortgage or FHA loan. As with anything, you need to do your due diligence by doing some comparison shopping and evaluate subsidized first time home buyer loans against what traditional lenders are offering. Once you’ve done some number crunching, go only with the option that is the best all round fit your needs. Good luck and all the best!

First Time Home Buyer Programs

For more tips on buying your first home including grants, loans, and other programs you may be able to take advantage of, be sure to visit our first time home buyer guide. Go ahead and log on now: http://firsttimehomebuyerstimulus.net

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Article from articlesbase.com

Single Mothers Housing Grants

Single Mothers Housing Grants

It’s never easy maintaining a family house at the best of times, but when you’re a single mother, this task becomes a lot harder. With the government realising this challenge, there are a variety of federal support programs intended to support single mothers, in the form of housing grants.

Here are two examples of single mothers housing grants that are worthy of looking into further.

The Public Housing Agency (PHA) Housing Choice Voucher

This is a scheme set up through the government’s Housing and Urban Development (HUD) department, and aims to assist low income families. This is done by helping to locate a home that fits your specific requirements, and then a percentage of your rent is then paid directly to your landlord, relieving the monthly strain of your rent.
This voucher can also be put to use towards the purchase of your home as well, provided that the house is considered to be practical and suited to your needs.

There are specified criteria that need to be met to qualify for these vouchers, and contain these terms:

* You must be an U.S. Citizen or an eligible immigrant
* Your family income must be below the Median income of your area (or area you wish to move to). These figures can be received from HUD.
* You must allow access to your banks, employers and agencies, for sufficient assessment.
* Also, the HUD for your area must have met it’s legal targets, the main one being that 75% of it’s funds are to go to families with incomes of 30% of the area’s median income.

To seek your eligibility and apply, you should contact your local PHA (Public Housing Agency)

The American Dream Down payment Initiative (ADDI)

When looking for single mothers grants, this scheme is often thought-about, although not designed primarily for single moms, but for low income families, so often single mothers can meet the requirements. The ADDI grant is presented only to first time homebuyers, and can provide the following aid:

* Up to ,000, or 6% of the purchase price of the house (whichever is larger)
* Financial support for closing costs
* Financial support for rehabilitation (eg proper removal of health dangers)

Like the previous grant, you must satisfy specific criteria to qualify, and these include:

* Be a first time home buyer
* Be looking to buy a family home (as opposed to an one bedroom flat, for instance)
* Have an income of below 80% of the area median wage (details can be obtained from your HUD)

There is more assistance for single mothers available, but these two are a good starting point, and an idea as to who can qualify. Get in touch with your local HUD for more details, or visit our website.

First Time Home Buyer Programs

Visit our site for assistance for single mothers, plus information and tips for housing grants.

Article from articlesbase.com

See how easy it is to get a grant with Matthew Leko’s government Money Club at www.freemoneyguy.com
First Time Home Buyer Programs
Video Rating: 0 / 5

FHA mortgage and FHA Home loan Guidelines make it easy to qualify

FHA mortgage and FHA Home loan Guidelines make it easy to qualify

FHA Mortgage Loans for Buying a Home or FHA Mortgage Refinances are Fast and Easy with FHA Mortgage Loans

FHA home loans allow first time home buyers and current home owners buy a home with less than 4% down payment or FHA home mortgage refinance up to 97.75% of the homes value. learn about FHA loan programs which will help you buy  a home with no money down,

Other FHA loan Advantages Include:

Minimal Down Payment and Closing Costs.

Down payment less than 3.5% of Sales Price Gift for down payment and closing costs allowed. No reserves or required. FHA regulated closing costs. Seller can credit up to 6% of sales price towards buyers costs.

Easier Credit Qualifying Guidelines such as:

Minimum FICO credit score of 540. FHA will allow a home purchase 2 years after a Bankruptcy. FHA will allow a home purchase  3 years after a Foreclosure

Easier Debt Ratio & Job Requirement Guidelines such as:

Higher Debt Ratio’s than other home loan programs. Less than two years on the job is allowed. Self-Employed individuals o.k.

www.FHAmortgageFHALoan.com

General FHA home Loan Underwriting Guidelines

Disclaimer:  These FHA underwriting guidelines are to be considered standard and  general.  FHA will, from time to time, change their home loan guidelines such as loan limits or debt-to-income ratios.  In times when FHA guidelines change frequently, we are not able to update the guidelines immediately, therefore, we cannot guarantee that the guidelines outlined here will be in effect at the time of your FHA home loan  application but is provided to give you the basic idea of the requirements of the FHA mortgage.

Neither the lack of traditional credit history nor the lifestyle of the borrower may be used as a basis for rejection Collections: Based upon the surrounding circumstances, and as determined by our underwriter, these do not necessarily have to be paid. Judgment: Are required to be paid off before the mortgage loan is eligible for insurance. However, exceptions can be made if the borrower has been making regular timely documented payments and the creditor is willing to subordinate the judgment to the insured mortgage. Foreclosure: A borrower whose previous residence or other real property was foreclosed on, or who has given a deed-in-lieu of foreclosure with the previous three years is not generally eligible. Exceptions can be made based upon extenuating documented circumstances. Chapter 7 Bankruptcy: Will not disqualify a borrower if at least two years have passed since the bankruptcy was discharged Chapter 13 Bankruptcy: A borrower paying off debt under Chapter 13 may also qualify if at least one year of the pay out period has elapsed with satisfactory payment performance and the court approves the borrower entering into a mortgage transaction. Aliens: FHA will insure mortgages made to lawful permanent resident aliens under the same terms and conditions as a US citizen. No Income Restrictions Higher Ratios: HUD’s standard ratio guidelines are 31% (maximum exception of 36%) of your gross income for housing and 43% (maximum exception of 50%) of your gross income for housing plus other creditors. Borrowers may, at the underwriters discretion, be allowed to extend beyond these ratios based upon sufficient compensating factors. Down Payment: The minimum down payment is approximately 3%. While credit quality can affect this qualifying requirement, the typical borrower only needs the standard HUD guideline of 3% to be approved. Gifts: 100% gift funds are acceptable. The donor may be a relative of the borrower, the employer or labor union, a governmental agency, a not for profit private organization, or close friend with a clearly defined interest in the borrower. No repayment of any gift may be expected or implied. Sellers are allowed to pay all closing costs on behalf of the borrower up to 6% of the purchase price. Reserves: There are no reserve requirements for one and two-family until residences. Three months reserves are required for three and four-family unit residence’s. Multifamily: Three and four family unit residences, regardless of occupancy status, must be self-sufficient. The maximum mortgage is limited so that the ratio of the mortgage payment divided by the monthly net rental income does not exceed 100%. The net rental income is the appraiser’s estimate of fair market rent from all units (including the unit chosen by the borrower for occupancy) less the allowance for vacancies and maintenance which is 15%. 85% of the rental income that is expected from the non-occupied units is added to the borrower’s income for qualifying purposes. Down Payment is calculated the same as single-family units. Overtime, Bonus and Part-time Income: Overtime and/or bonus income received for a period of less than two years is acceptable where the underwriter determines that there are reasonable expectations of it’s continuance. An earning trend over the period of time of receipt must be established and analyzed. Part-time income means income from jobs taken in addition to the normal regular employment to supplement the borrower’s income. The same rules apply for determining using it as a part of qualifying. Extended Absence from Workforce: In some cases, the borrower may have recently returned to the work force after an extended absence. The borrowers income may be considered effective and stable provided the borrower has been employed in the current job for 6 months or more and the borrower can document a 2 year work history prior to the absence from the work force. Rental Income: Rental income from relatives residing on the premises is acceptable provided the rental income is shown on the borrower’s tax returns. Cash Saved at Home: Borrowers who meet the “cash borrower” profile (no traditional credit, no bank accounts, etc.) who have saved cash at home and are able to adequately demonstrate the ability to do so are permitted to have this money included, with satisfactory explanation, as an acceptable source of funds to close a mortgage loan. Child care expenses are NO LONGER included as debt. Non Occupant Co Borrowers: When there are two or more borrowers, but one or more will not occupy the property as a principal residence, the maximum mortgage is usually limited to 75% loan to value. However, maximum financing is available for borrowers related by blood or for unrelated individuals that can document evidence of family type, long-standing and substantial relationship not arising out of the loan transaction. Qualifying is determined by the underwriter. Assumable: All FHA loans are assumable Electronic/Online Payroll: 1st Continental Mortgage, and the industry as a whole, recognize that some employers use online payroll for pay stubs and W-2’S. These types of documentation are acceptable. Rate Adjustments: There are no interest rate adjustment “penalties” for higher loan to values with FHA fixed rate loans. The rate, is the rate, is the rate. Secondary Financing: Secondary financing is not allowed with an FHA loan. The only acceptable second mortgage is with an approved HUD gifting agent such as down payment assistance provided by a gov’t agency in the form of a “silent” second mortgage. Piggie Back seconds/HELOCS are simply not allowed. Home Inspection: A home inspection may or may not be required on a property based upon various factors. Typically you will find it is not required, but is recommended on any existing residence. Pest Inspection: A termite inspection is required for all existing properties. Closing Costs: Closing costs charged to the borrower are restricted and may in fact be less than conventional closing costs dependent upon your lender or broker.

 

 Apply for an FHA home loan at http://www.fhamortgagefhaloan.com/

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