Benefits for First-time Home Buyer and Single Mom
At the moment, there aren't many benefits to be had. The economic recession has eliminated much of the home buyer assistance that used to be available -- at least as far as grants and other "free money."
As a first-time home buyer, you would be eligible for the $7,500 tax credit for first-time buyers, as long as you purchase a home by the July 2009 deadline. Of course, you have to pay this back in annual installments over a 15-year period, so it's more like an interest-free loan than a true tax break. Still, it's worth looking into.
I'm not aware of any current home-buying programs for students, but that's only because they're typically offered through universities and private organizations (as opposed to the government). So it's hard for me to keep up with those kinds of programs. If I were you, I would research it through your college or university. They would be able to tell you about any home buying assistance for students that they might offer.
As for being a single mom, I dug up some information about this once before. The article is more than a year old though (and probably closer to two), so you'll have to follow the links to get updated information. Here's a link to the article: Home Buying for Single Moms
Related Q&A sessions:
I hope that helps you out some, or at least puts you on the path to better answers.
Labels: Home buying process
posted by Brandon at
2:09 PM
