Looking for HELP with SECTION EIGHT Income Housing. How do I apply? How do I qualify? I live in New Jersey. I NEED my own place to live. I really need to be able to live in RANDOLPH New Jersey. My children attend that school system, I am divorced and make about $24,000.00 per year. I have 2 children. Ages 15 and 11. I am residing with my sister in another town. My children are able to attend school in RANDOLPH because they live with my ex husband eveyother week. He resides in Randolph. I need to be able to get a place in RANDOLPH by 8/2007. My son will be entering the middle school there and I need to be able to utilize the school busing system. I work a 40 to 45 hour work week the commuting that we have to endure is very hectic. I will not have the option of after school programs for my son next year. I NEED HELP!! Any suggestions. Advice. Assistance. ANYTHING!!! will be greatly appreciated. Thank you!! Single Mom Randolph NJ!!Im a single mom living in NJ I need low income assistance to either rent or own my own home What do i do?
Have you tried contacting the housing authority in your area and asking them?
Or going to the HUD website and doing a search?
This Morris County housing guide lists some places in Randolph with housing assistance, but there is a waiting list:
http://www.housingpartnershipmorris.org/鈥?/a>Im a single mom living in NJ I need low income assistance to either rent or own my own home What do i do?
Try this site:
http://www.hud.gov/local/index.cfm?state鈥?/a>
All is not HOPELESS - ok - take a deep breath. If your middle credit score is 500 or higher, anything is workable.
Lenders look at the middle score...of the 3 scores. If you only have 1 score or 2 scores (have seen it), it is still workable....but unless a lender sees the whole picture - credit - income - job time, etc - than you will not have a ';true'; picture of what you can afford - Hope this helps - There are also Government programs out there, but they too are looking for job time, etc.....They are not so much looking a credit - but the other factors are taken into consideration. With a government loan - judgements will have to be paid (most ppl do not know that) and collections can remain open, depending on underwriting and the cause of the collections
There are other factors to consider, besides credit. Medical Bills are Over looked buy underwriting (since medical is a unforseen event), where as credit cards, are looked at (since you purchased items on a credit card.) Also, Job time of 2 years, Rental history for 2 years is looked at. What collections %26amp; judgements are on your credit report. Some collections may not have to be paid off. Judgements may need to be paid off - depends on the Lender and Their Underwriter. All of these are taken in as a factor on getting a home loan. Credit can be worked on, by adding alternative credit. If you are paying regularly on a cell phone, auto insurance, rent, etc - these are called alternative credit.. All is not HOPELESS - ok - take a deep breath. If your credit score is 500 or higher, anything is workable, with a seller second - etc the higher the credit score the better. Lenders look at the middle score...of the 3 scores. If you only have 1 score or 2 scores (have seen it), it is still workable....but unless a lender sees the whole picture - credit - income - job time, etc - than you will not have a ';true'; picture of what you can afford - Hope this helps - There are also Government programs out there, but they too are looking for job time, etc
So A 100 percent loan - is not totally out of your reach.
Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) FHA/VA approved too. If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a ';hard'; pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.
Try to find someone (broker) that will pull your credit one time, and submit your loan application to company's that will go off his credit report. By the way, a loan application is called a 1003, and they will issue you a GFE (Good Faith estimate, with-in 3 days, that is per the RESPA laws, and the TIL (Truth in Lending). The GFE will tell you the up-front closing cost associated with your loan. The TIL will tell you the terms, rate associated with your loan. This is a estimate only - not the final - but it does help you figure things out.
It greatly depends if you need help with closing cost, (The seller could do Seller Help toward your closing cost). If that is the case, I normally tell my clients NOT to hackle over the price, since you are asking for closing cost help - especially if the home is thru a realitor, and the seller has to pay the realitor their fee which runs from 3-6 percent of the selling price, and you ask for 3-5 percent toward closing cost -assistance) Follow me so far??
Welcome to the USDA Income and Property Eligibility Site
http://eligibility.sc.egov.usda.gov/elig鈥?/a>
This site is used to determine eligibility for certain USDA home loan programs. In order to be eligible for many USDA loans, household income must meet certain guidelines. Also, the home to be purchased must be located in an eligible rural area as defined by USDA.
To learn more about a USDA home loan program, click on the Loan Program Basics link (when you get to the page) on the left side of this screen and select one of USDA's home loan programs.
Other Information:
Go to these websites
http://www.nehemiahcorp.org/
http://www.fanniemaefoundation.org/...
http://www.fha-home-loans.com
You could talk to a realtor. Talk to social services. Go to the bank and ask for a low intrest loan. Good Luck.
Start with the D. H. R. office in your town. See if you can get a landlord to sign up for the program, section eight that is, and rent to you, he would not have to worry about his rent, because section eight will pay it or most of it.
The State of New Jersey has a low-income housing program that will allow you and guarantee you a low interest rate and down payment assistance program. There are guidelines that need to be followed and income requirements that you must qualify. Go to http://www.nj.gov/dca/hmfa/. The link is to the NJ housing and Mortgage Finance or you can call 1-800-NJ-HOUSE (654-6873).
Hi Laura,
If you're still looking for help, I am still looking for clients. I work for a company that specializes in 100% financing for new homes. I would like to work w/ you to see if we can get you into your own home asap. Contact me at shanilw1@aol.com if you have any questions at all about how I can help you. Try not to stress your self out, things will work out for the best.
First, try looking up www.hud.gov for section eight aid. That is the official site for ';H.U.D.';(Housing, Urban, Development), along with every option you may qualify for, besides section eight.
Then look up your states (NJ) web-site for housing, single Mothers, and any type of aid that you feel they could help you with, or for your family(kids). Ex: www.njmfa.org %26amp; www.comcon.org (home grants).
Last, go talk with your Bank, maybe they can Help! Believe it or not, your Banker has a wealth of knowledge and experience with hundreds of different programs, that could Help you. Be honest, and not affraid to tell your Banker your problem, when you ask for His/Her Help. Your Banker lives in your community, so they want their neighbors to succeed, and make their town prosperous, as well as everyone else, or they will be ';out-of-work,'; and their house, as well...
Good Luck!!
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