Unless born into great wealth (in which case, what are you doing here, reading this?), buying one's first home is a life milestone most of us dream about. However, a house is not a pair of shoes, and it looks like getting one is becoming increasingly more difficult. Now try thinking what it must be like for a single mom to even imagine owning property. How far away it must feel. Luckily, there are grants made specifically for them to help make that dream come true.
Government-funded programs
Since local and federal authorities understand that single parents have it hard enough even without the stress that comes with homeownership, they offer different welfare programs designed specifically for that cause: helping them purchase their first home.
The first that comes to mind is the first-time home buyer assistance program, which is the most famous one. Depending on the mother's income and current living arrangement, the program can help her get a house.
Single-family home buying grants
These grants can help all single parents (meaning single mothers AND single fathers) in covering closing expenses or down payments. The USDA operates single-family housing programs that you can check out when looking into single-family property purchase. It is also worth researching charities or NGOs in your area to see if there's anything more they can help with.
Single mothers' specialized home loans
Sure, grants are usually the preferred option. But home loans are better than nothing, and some of them are tailored specifically for single mothers (like lower down payments or lower interest rates). Take a look at FHA Loans for a start.
Local and state aid
Other resources that single mothers can use to help fund their first home purchase are Individual Development Accounts (IDAs), employer-assisted housing programs, and state-sponsored savings plans. Do your research, consider the different criteria for eligibility and applications before signing or committing to anything.
