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Littleton Colorado Real Estate and First-time Home Buyer Grants for Single Moms

August 3, 2016

For single mothers, first-time home buyer grants can be a great resource for affording your first home. Everything is more difficult when you’re raising a family with a single income and you have to pay for childcare because you are the only parent. But this does not mean that you can’t own your own home. There are different kinds of home buyer grants that work in different ways. You can rely on us to be solution-driven and both reliable and responsive to all your real estate needs – to include providing you with some current Littleton, CO home-buying options to assist you. And whether you are buying, selling or renting, we are your one-stop Littleton Real Estate Company.

Grant programs to help single mothers and their families are designed not only to put single mothers and their families under one roof but also to reduce their payments, increasing their ability to pay the mortgage in a timely fashion. The most important thing to know about first-time home buyer grants is the fact that they do not always cover the entire cost of the home. Some programs pay for the down payment, while others may cover closing costs or rehabilitation of the home. Some grants may come in the form of home ownership vouchers, which could help pay your monthly mortgage, as well as other expenses that come along with owning a home. Check with the Housing and Urban Development office in Denver for specifics and up-to-date information.

In some cases, you may be able to qualify to purchase a HUD home. These are homes that are priced below market price. The U.S. Department of Housing and Urban Development usually acquires these properties through foreclosure, which is the reason they are priced below market value. Almost anyone can buy a HUD home, but not everyone knows they are available. It is very important to realize that HUD does not guarantee the quality of the properties. If there is a problem, then you will be stuck with repairing that problem. Of course the very low price of these homes can still allow you to come out ahead.

Bridge of Hope
Single mothers of low-income families may also benefit from housing assistance available through the national religious service agency Bridge of Hope. The Bridge of Hope business model includes a professional staff of trained social workers to help families allocate funds for housing, but more services for emotional support and financial budgeting are available as well.

Housing Choice Vouchers
HUD also coordinates the housing choice vouchers program, which offers housing aid to low-income families for the purchase of single-family housing in an apartment, townhouse, or other structure. Housing choice vouchers are available by talking with the local public housing agency (PHA). States differ, of course, as to what’s available in first-time buyer programs. So to see some descriptions of the available programs in 2016 in Colorado, go to the home buyer programs site.

Need more information about your options? We are happy to steer you in the right direction, because at Colorado Home Sales, we are ready to assist you in your home purchase. We work aggressively with homebuyers and mortgage brokers to compete in this market. Whether you are buying, selling or renting, we are your local, one-stop real estate company. Contact us today at 720-220-2059.