Where Can I Find Government Loans For Single Mothers?
If you are looking for government loans to help you, there are a number of resource that you can access to help you on your way. First of all, you need to decide what kind of loan you are looking for. There are many kinds of loans that the government offers but they vary based on use.
For example, if you are looking for a home loan, there are programs. If you are looking for fund to help pay for college, there are programs for that, as well, if you are looking to start your own business, you can get government loans to help you start a small business.
So, the upside is there are resources that are available to you to take advantage of. The downside is you need to do your own research, and that may mean sifting through a huge pile of different resources that will help you sift through the mess. You can visit the governments site at govloans.
As far as looking a home mortgages, here are just a few resources:
FHA Mortgage
Since the 1930s, the Federal Housing Administration has been helping families become homeowners with a set of programs commonly known as FHA mortgages. Formed in 1934 by Congress, the FHA became part of the Department of Housing and Urban Development’s Office of Housing (HUD) in 1965. Today it acts as a buffer to lenders by reducing their risk in issuing loans as well as helping borrowers get amounts they qualify for.
Continue reading about FHA Mortgage Loan.
Hope Now
Established in October 2007, Hope Now is an alliance between counselors, servicers, investors and other mortgage market participants to maximize outreach efforts to at-risk homeowners and help them stay in their homes.
Continue reading about Hope Now.
VA Mortgage Loans
Designed to provide millions of U.S. veterans and their families with affordable housing, the VA loan emerged through the GI Bill of Rights, which was signed off in 1944 by President Roosevelt.
Continue reading about VA Mortgage Loans.
Rural Development Guaranteed Housing
Under the U.S. Department of Agriculture (USDA), the Rural Development Administration helps low- to moderate-income families purchase homes with low interest rates and little or no down payment.
Continue reading about Rural Development Guaranteed Housing.
The American Dream Downpayment Initiative – ADDI
The American Dream Downpayment Initiative was created in 2003 to aid low-income, first-time homebuyers in achieving affordable housing by eliminating two of the biggest hurdles in buying a home: a downpayment and closing costs.
Continue reading about The American Dream Downpayment Initiative.
Teacher Next Door Program
Established by HUD in order to provide affordable housing to teachers and education administrators, the Teacher Next Door Program offers a 50% discount on homes purchased in low- and moderate-income neighborhoods.
If you are looking for small business, then here are a few programs:
7(a) loans are the most basic and most used type loan of SBA’s business loan programs. Its name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. The loan pr… view more
Capital Construction Fund Program: The Capital Construction Fund (CCF) Program enables fishermen to construct, reconstruct, or under limited circumstances, acquire fishing vessels with before-tax, rather than after-tax dollars. The program allows fishermen to defer tax on income from
Certified Development Company (504) Loan Program: The CDC/504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
Disadvantaged Business Enterprise Bonding Assistance Program – American Recovery and Reinvestment Act (DBE BAP ARRA) This American Recovery and Reinvestment Act (ARRA) program, will be administered by the Department of Transportation’s (DOT) Office of Small and Disadvantaged Business Utilization (OSDBU), which will allow small and disadvantaged businesses to apply.
Economic Injury Disaster Loans: The U.S. Small Business Administration (SBA) is responsible for providing affordable, timely and accessible financial assistance to small businesses and private, non-profits of all sizes located in a declared disaster area.
Equity Investment – Small Business Investment Company (SBIC) Program: The Small Business Investment Company (SBIC) program, part of the U.S. Small Business Administration (SBA), was created in 1958 to fill the gap between the availability of venture capital and the needs of small businesses in start-up and growth.
Microloan Program: The MicroLoan Program provides very small loans to start-up, newly established, or growing small business concerns. Under this program, SBA makes funds available to nonprofit community based lenders.
As you can see, the list is exaustive and there are just many, many places you can look to find more information on government loans for single mothers.
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