Can a Single Mom Buy a House?

Hi E.,

My name is E., Yes! This is possible I have done it, my mother has done it and many other woman have done it. I'm a real estate agent and have sold to many single mothers. Your first step is knowing what you can afford and what you are approved for through a mortgage broker or bank. If you get approved up to a certain amount make sure you can afford that payment with other expenses involved. There will be the mortgage note,insurance,taxes and remember when purchasing a home to consider your closing cost. There are ways to include your closing cost in your mortgage, if this something you need make sure you speak to the person you're working with to consult you on that. If you have any questions feel free to contact me, I will try and answer any questions you have.

E.

E.,
You can certainly buy a house if you can afford one. But be aware that it is ALOT of work for a single mother of two. I did it for 7 years and was completely exhausted. The lawn, the gardens and general maintenance of a house can be overwhelming. If you do buy a home, I'd recommend getting a newer one with a small yard . Hopefully you have family/friends nearby that can help you out with the "handy-man" stuff. I had to hire a handy man to do odds and ends. That took more $$ from my pocket. Houses can be expensive to keep maintained.
On the other hand, you can find great deals out there right now with the economy as bad as it is. Perhaps it would be a good investment for you. Just keep the other stuff I mentioned in mind.
Good Luck

Hello E.!

Of course you can buy a house on your own. But do not use words like difficult. By saying it would be difficult you are planting that seed. You even took it another step by saying "extremely difficult". Just see yourself and your kids in your new home and it will come to pass. Stay positive and all the best! Have fun decorating your new home!

It's very possible and actually a great idea for a single mom to buy a house. Often, the rent on a decent apartment is the same as or more than a mortgage payment, and with a home you are building equity. This will allow for you to have something to borrow against if something ever happens and you need large sums of money fast. Plus, the satisfaction you'll get from having that house and knowing its all yours, and you did it on your own for your kids is immeasurable, and the kids will thank you for it later. There is always programs available to help you get the mortgage and to help you come up with the downpayment, and there's always refinancing if you get stuck with a high interest rate.

CAll a mortgage person! Dont' make any assumstions, good or bad, until you talk to one. If you have the monthly money to pay for a nice apartment, then you have the money for a home. They don't care if its one income or two, as long as there's an income. And there's plenty of programs for taking care of those who can't afford any money up front....believe me, we used them.
Our mortgage guy was Dan Seneca. He is with Lonestar. He's sweet, and honest. I recommend him highly
J.

I think that it is possible. I haven't done it myself but 2 of my neighbors are single moms and they bought their houses, not rent them. One mom has 4 kids between the ages of 10 and 2 and the other mom has 2, 12 and 11 years old.

I think that it would be worth going out and questioning about mortgages and going to Realtors to see if there is anything within what you can afford.

Good luck!