Mother’s Day is this Sunday and in honor of mother’s, daughters, sisters, aunts, and all women, it is interesting to note how far women have come in just a few short decades when it comes to home ownership.
In 1968, the federal Fair Housing Act was passed making it illegal to discriminate on the basis of race, color, religion or national origin when renting or selling a home. In 1974, the Fair Housing Act was amended to prohibit housing discrimination on the basis of sex. Prior to that time, women (as well as minorities) found it nearly impossible to obtain credit or to buy a home.
Today, statistics from the National Association of Realtors shows women are buying homes on their own. The latest numbers reveal single female buyers are the second largest share of buyers behind married couples. Other statistics from the Joint Center for Housing Studies has supporting data which reveals twice as many unmarried women are buying homes than single men. Today, single women also make up more than one-third of the growth in real estate ownership since 1994.
The Nevada Rural Housing Authority is helping working Nevadans, including women, afford to buy their own home through programs, like Home-at-Last Access. The program is unique because you do not have to be a first time home-buyer or a veteran to qualify. It provides a 4% down payment grant that does not have to be repaid and offers a low interest rate of 3.625% on fixed rate FHA, VA, or USDA-RD home mortgages through participating mortgage lenders. Nevada Rural Housing Authority statistics reveal women are taking advantage of the program. The program is just over a year old and to date, 188 loans have been made to women accounting for 32% of all loans provided under the program.
To learn more about the Home-at-Last program, participating lenders and restrictions, visit
www.nvrural.org/access or call Kim Ritter at (775) 887-1797.