what are some single mom first time home buyer programs?

I am from Dayton OH looking for a home to buy in Fairfield OH. I work in an insurance department for a mortgage company and my coworkers have been trying to help me with the home buyers process and they're telling me there are a lot of programs for first time home buyers and single mom home buyers, which I am both. I am looking for those programs and am not finding them easily with a google search(lots of spam). Not just looking for financial aid programs but education programs too. I really want to know the whole process thoroughly. Thanks.

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  • jack
    Lv 4
    6 years ago
    Best Answer

    There are also some down payment assistance programs in Ohio, OFA being one. It offers State Bond money for 1st time home buyers. Check with your coworkers and talk to a Realtor!! If you look to new homes, AEP Ohio also offers incentives for energy efficient homes and appliances.

    I can tell your serious about getting your family into a home, Best advice is to work with a real estate professional, a Realtor, who knows the funding programs and the homes in Butler and Hamilton counties. And it wont cost you a Penny, the seller will pay all the commissions.

  • 6 years ago

    If you have an office full of mortgage professionals, maybe you should ask them to point you to the specific programs?

    Yes, there are some first time homebuyer programs. The most common being FHA, which has lower downpayment requirements. If you are from the military, you can get VA loans. There are also some HUD and rural development loans that are available depending on your location. You might also find some local programs through credit unions or other sources.

    As far as single mother homebuyer programs, I haven't heard of any. There might be some small programs on the local level, but there is not national program. You are entitled to child support and such based on your income and the father's income, but there aren't any programs specifically to help a mother buy a house.

    Again, if you work in a mortgage office and people are encouraging along this route, you should ask them to give you specifics. On a national level, there are first time programs, but not single mother programs. But, your co-workers might know of something local.

    Also, remember that you coworkers make money by writing loans. It's in their best interest to get you to take on a mortgage, so just take all their advice with a grain of salt.

  • 6 years ago

    There are not a lot of home buyers programs that still exist today. Many of the home buyers programs were federally funded programs,which are no longer available any longer.

    You might consider checking with your county or city housing departments, to see if there are programs you are qualified to apply for. There might be some state programs available. You would need to check with your state housing department.

    In some instances some cities might have mortgage buyers assistance programs for firefighters, firemen and teachers that would live and work in the city. The cities and county might also have mortgage assistance programs for employees of the city or county.

    The county might also have mortgage assistance programs for county firemen and hires of the sheriff department.

    By you working in a mortgage lender office, you might inquire if you are eligible for to apply for and be approved for a FHA mortgage loan. Some mortgage lenders might not be approved to do Government mortgage loans such as VA. FHA or USDA mortgage loans.

    The down payment for a FHA mortgage loan is approximately 3.5%. Even if you have slightly damaged credit you could still apply for and be approved for a mortgage loan. Your interest rate might be slightly higher.

    I hope this has been of some benefit to you, good luck.

    "FIGHT ON"

  • 6 years ago

    "Financial first time homebuyer programs" are a thing of the past. You WILL be able to find education programs easily. HUD puts on such education programs regularly. A good place to start is at the supplied URL.

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  • 6 years ago

    It is illegal to use your gender, marriage or family status as a criteria for anything housing. That would violate fair housing laws. Just as there are no special loans for men only there are none for women only. You qualify just like everyone else.

    There are 2 first time loan programs available to anyone, regardless of their gender, family status, race, nationality or sexual orientation, either a FHA loan or a USDA one.

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