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Single mothers who dream of owning their own home may be surprised to realize that home ownership is easier that they probably expect. This is NOT to say that getting a home is easy. It isnít; however, it is possible to do. Single mother mortgage help does exist, and it is becoming easier to find.
More and more women are buying their own homes. Some women may be married and, for a variety of reasons, may have their name on the mortgage. In the last twenty years, however, single women have been buying homes in increasing numbers. Enough women are buying homes that the construction industry is starting to build homes that would appeal to a single woman, rather than to a single man or a family.
Since the Federal Government passed a law to end discrimination of women in real estate and lending, agencies connected to the home-buying business have increasingly been developing programs for single mother mortgage help. Many of these programs can help women who did not have any credit rating because of their marriage. Many women were married to men who were bad credit risks. Plans now exist to help women such as these develop a good credit rating and find a home of their own.
Single mother mortgage help does exist but a single mother needs to do some research in her community. She would find it helpful to tour many houses in her area and get an idea of the kind of house, and the neighborhood, that she and her children would like. She needs to gain a sense of the prices of the houses in which she is interested. Single mothers should not stop looking because they fear that the houses are out of their price range. They should continue looking and create a list of homes in a wide price range.
Single mothers should also go to a public library and do some research on home buying, home ownership and mortgage lending in her community. Some libraries may even have flyers or other information so a single mother can find someone who might specialize in single mother mortgage help. Single mothers should also gather all possibly pertinent papers. These papers would include any divorce decrees or past legal documents. If the single mother had any documentation of a history of prompt bill paying, she needs to collect this data.
Being prepared with a list of what is available and what financial history she has, a single mother should visit some mortgage brokers and/or real estate agents, especially if she has heard that they specialize in single mother mortgage help. Reputable professionals will be able to give the single mother appropriate guidance and let her know for what programs she is eligible. Hard work is yet to come, but the process would have started.
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