Being a mom is a rewarding and challenging full-time job. For many moms, the full-time of work of parenting is accompanied by full-time employment. For single moms, the challenges of parenting, especially the challenges of financing the purchase of a home on a single income, can be daunting. Federal grant money is there to help single moms to achieve the reward of a home of their own.
The U.S. Department of Housing and Urban Development offers reduced-price homes through federal funding in order to promote affordable ownership and rental opportunities as well as urban renewal. Single moms can take advantage of programs like the Good Neighbor Next Door initiative, which offers incentives for individuals working in law enforcement, education and emergency services occupations.
Section 8 Vouchers
Administered locally in partnership with public housing agencies, HUD's Section 8 vouchers give qualifying low-income families assistance in meeting rental costs. While not specifically grant-based, these federally funded agencies pay a subsidy directly to the landlord to defray housing costs. Single moms who qualify can choose their own housing, including single-family homes, townhouses and apartments, as long as it meets HUD's requirements.
FHA Down Payment Assistance
Single moms can search for down payment assistance through the FHA's grant portal. These programs offer help acquiring finding for a down payment for those who qualify for FHA home loans. Often, these down-payment assistance programs are associated with faith-based and non-profit organizations that strive to improve quality of life for families facing financial challenges.
Federal Home Loan Banks
The Federal Home Loan Bank System's Affordable Housing and Community Investment Programs finance a large number of projects and grants in 12 national districts designed to assist low-income and economically disadvantaged individuals and families in achieving home-ownership. Single moms have benefited from programs such as The FHLB of Dallas's HELP grant, which works in partnership with Habitat for Humanity and local banks.