Everyone dreams of owning a home in America. Being able to own a home is an important rite of passage in the country and something that most people strive for doing. However, housing prices have skyrocketed in many states, and the salaries have not kept pace. It has become more challenging for many people to be able to purchase a home, especially if they have a lower income. The good news is that there are some programs that offer help for ex-felons with buying a home.
Depending on where you live, there is a good chance that you have seen housing prices go up a lot in recent years. While this varies state by state, most people have seen big jumps. In Florida, for example, home values have risen 73% over a five year period. This is helping to make housing prices unaffordable for many people. Those who want to purchase a house, including many ex-felons, will need to get help in order to do so. There are programs you can turn to in order to get help with purchasing a house.
There may be local programs around the country that focus on providing help for ex-felons with buying a home. Most programs, however, are open to everyone who needs the financial assistance, whether they are an ex-felon or not. The issue of being an ex-felon should not be much of a factor for most programs that offer helpful programs. They tend to be open to those who have a low income. They also usually require the people they help to be citizens or legal non-citizens.
Programs Providing Help for Ex-Felons with Buying a Home :::: Housing and Urban Development (HUD) – This is likely going to be the best program to contact for help for ex-felons with buying a home. This is a government program that focuses on housing issues in the country. Their mission is to help people find affordable housing, purchase a house, get necessary home repairs done, and more. They have an office in every state in the country, so you simply need to contact the one in your state and see about starting the process to get help. They provide financial assistance to those who have a low income and are a citizen or legal non-citizen. In addition to helping people with purchasing a house, they will also help with repairs, weatherization services, and more. To find your state’s HUD office, click here.
Habitat for Humanity – This organization focuses on helping people with housing issues around the country. In addition to offering help with making repairs and helping to restore a house, they also make it possible for many people to own a home. The organization tends to get groups of volunteers together who build the house, so that the labor to do so has all been donated, and then the house is given to the person in need. It’s a good idea to check with Habitat for Humanity to see if you can qualify to get help to buy a home or to become a homeowner through their charity program. To find a location of Habitat for Humanity near you, click here.
U.S. Department of Agriculture – If you are interested in living rurally then this program is a good one to apply with for help for ex-felons with buying a home. This is a government funded program that will help people purchase homes in rural areas around the country. The program they offer focuses on single family homes and is open to those who have a low income. They provide loans to purchase a home, making it possible for many people who get one who would not otherwise be able to. The loans have a very low interest rate, so that payments are kept affordable. Also, the program makes it possible to purchase the home with no money down or very little money down, depending on your financial status. The loans are paid over a 30-33 year period and have very low fixed rate interest rates. The only stipulation on purchasing or building a home through this helpful program is that it has to be in a rural area. To get more information about the program or apply for help, click here.
Freddie Mac – One of the largest mortgage providers in the country, Freddie Mac offers a program to help people who have a low income be able to purchase a home. The program is called Home Possible. It offers a low down payment solution, so that more people can afford to purchase a home. They also allow a variety of down payment assistance options, so that more people can afford to buy a home. Some people may need to only put 3% down, and others are able to accept down payment assistance from family members, secondary financing sources, and even sweat equity. Their program opens the door for more people to be able to purchase home who have a low income. To get more information or to apply for the Home Possible program, click here.
In addition to these programs, check with your local housing authority. Cities around the country have their own housing authority that helps locals with housing issues. They may have access to programs in your local area that can help you purchase a home. They also have access to affordable housing options in your area, as well as providing help with home repairs, weatherization services, and more.
Additionally, there are some people who sell their home themselves who are willing to do a rent-to-own program. Look for these opportunities in your area. They provide an easier route to home ownership, because you will start out renting the home and then after an agreed upon period of time, you will become the owner of the home. Rent-to-own opportunities can be found in some cities and rural areas alike. They are usually homes that are for sale by owner, rather than by real estate companies. Contact them for direct information.
