If you are looking for mortgage loans for single mothers, then you’ve found the right place to research the idea further.
With the economy in such bad shape, people losing jobs left and right, and the real estate market in shambles it’s becoming more difficult to find mortgage loans without having astounding credit. This is in part due to the sub prime mortgage meltdown. Because of this, getting financed has become more difficult than ever before. However, there still is rooms for single mothers who need a mortgage – after all, this is one demographic in our society who deserves their own home more-so than any other demographic walking the streets. President Obama has issues many incentives for loan companies and mortgage companies to offer mortgage loans for single mothers. You can apply for an FHA loan, an d depending on your current financial situation, it’s possible that you can easily become qualified if you prepare yourself accordingly. Many single mothers have found the path to home ownership and are now proud homeowners – and so can you. Just read our guides and check out the resources and you’ll be well on your way to finding a house you love and can truly own.
The first thing you’ll want to do is find a real estate broker who specializes in helping single mothers. There are many real estate agencies who have at least one or two agents in their office who specialize in helping single parents with finding alternative ways to purchase a home. These agents know about HUD foreclosures and every other potentially good real estate deal on the market. They can also help you find a FHA, or HUD mortgage that will help you qualify for the loan.
Which brings us to our next point. You can find really good deals on HUD foreclosed homes in your area if you know where to look. What are hud foreclosed homes? What happens is this…when someone with a HUD insured mortgage fails to make the payments, the lender usually forecloses on the home and HUD takes ownership of the home. The HUD will then sell the home as quickly as possible at market value. The official HUD website has a full listing of HUD homes in your area and by going this route, finding mortgage loans for single mothers can prove to be a lot easier. If you’re a first time home buyer, you may qualify for an FHA loan with a down payment as low as 3.5% of the purchase price. You can speak with an official HUD counselor by going to their website here.
By speaking with your local real estate agent, a counselor at HUD, and possibly finding a HUD foreclosure along with obtaining a first time home buyer FHA loan, you could be well on your way to finally owning your own home. Mortgage loans for single mothers is within reach if you know read this guide and follow these tips. You deserve it and so do your children. It’s time to finally get to where you want to be in life.