Trulia Voices—Hinesville

Top Voices      Member Search BETA      Create a profile

Ask a question

Browse

Search

e.g.: "San Francisco, CA"
e.g.: "Parks" or "Schools"

Email me when:

RSS
 
Share this: 
  • del.icio.us
  • Digg
  • Reddit
  • StumbleUpon
  • NewsVine
 

Is it hard for a single mother to get approved for a mortage loan on buying a house for the first time?

Also can you still buy a house if you can pay the mortage but you can't come up with a down payment
Fri Aug 31 2007, 21:27 - Hinesville - Home Buying - 11 answers
 
Useful
(1)
 
 
Not useful
(0)
 
  report get email alerts email a friend
 
Patricia
Just Looking
in 31313
Patricia, Just Looking in 31313 in 31313
Answers (11)
Show me:  Recent Answers     Oldest Answers     Highest Rated  
 
Ute Ferdig -… was FIRST TO ANSWER
If you are located in Hinesville and have decent credit and income, there is a USDA loan available to you for 100% of the purchase price. You can also build in your closing costs. The rates are competitive for this type of loan and there is no monthly mortgage insurance which will save you money monthly.

If you don't have a lender in Hinesville familar with this program, check out my website and call me. I'd be happy to help you purchase your first home!

Wed Jul 23 2008, 09:56
Web Reference: http://www.homestarfinancialcorporation.info
 
Useful
(0)
 
 
Not useful
(0)
 
 
report
 
Patricia,

You should speak with a professional loan officer IN GEORGIA. Someone who knows the "climate" here well enough to tell you right down to the zip code if you are going to have problems.

Most out of state lenders do not know which areas are good and which are bad for loans (your Realtor can help with this too).

I recommend calling someone with over 25 years experience, Theresa Laine at 770-891-4121. She specializes in first time home buyers and likes to walk people through the whole situation.

If your credit is decent and you have good income and low debt you should be able to purchase something.

Tue Jul 22 2008, 17:32
Web Reference: http://www.gahomesdigest.com
 
Useful
(0)
 
 
Not useful
(0)
 
 
report
 
I have read along your message and i feel for you. I'm a lender based in the USA we organise loans for individuls both secured and unsecured. You can get back to me on this Email:efeobama@yahoo.co.uk

Tue Jul 22 2008, 16:06
Web Reference: http://www.citifinance.com
 
Useful
(0)
 
 
Not useful
(1)
 
 
report
 
Can i ask for a mortage higher than what the house is selling for so that i may apply the difference in fixing the house?

Sun Feb 3 2008, 12:34
 
Useful
(0)
 
 
Not useful
(0)
 
 
report
 
As long as you have the income you can get a loan.

Wed Nov 7 2007, 13:56
Web Reference: http://getprequalified.com
 
Useful
(0)
 
 
Not useful
(0)
 
 
report
 
Its not hard and its not easy. You either qualify or you don't. The question for your lender is "how much" do i qualify for. Ask to see all the different programs.

Sat Sep 1 2007, 10:21
Web Reference: http://www.searchcharlestonhomes.com
 
Useful
(0)
 
 
Not useful
(0)
 
 
report
 
Hi Patricia,
As you have read, it is not based on marital status but credit scores and debt to ration. In some areas they have special bond money for single parents, or have had in the not so distant past. Be sure that your lender knows your situation and ask them to research programs that might help a single parent. Good Luck! Carrie

Sat Sep 1 2007, 05:14
Web Reference: http://carriecrowell.com
 
Useful
(0)
 
 
Not useful
(0)
 
 
report
 
Hi Patricia:
Back in the day I was in your shoes & purchased a home on my own - sans the down payment. After I married; for some odd reason, I purchased a home without including my spouse. It wasn't unusual - he had gone back to school - & I was the one with the steady flow of income.

Find the right lender - know the terms - and enjoy the process of becoming a self made woman!

Sat Sep 1 2007, 04:50
 
Useful
(1)
 
 
Not useful
(0)
 
 
report
 
I agree with Ute, Marital status has nothing to do with it.

If your credit and debt to income ratio is good then you can still get 100% financing in some cases. If you need a good reputable lender, let me know.

Sat Sep 1 2007, 03:25
Web Reference: http://www.jrjarvis.com
 
Useful
(0)
 
 
Not useful
(0)
 
 
report
 
As long as you have a good credit score and your debt to income ratio is acceptable you should be able to get a loan. It may be possible for someone like a parent to co-sign on the loan with you if you are just out of reach getting a loan on your own.

It's best to consult a reputable loan officer and they can pre-approve you for a loan over the phone in about 20 min. just by asking a few questions about your financial status.

Fri Aug 31 2007, 23:28
Web Reference: http://www.dudleysellshomes.com
 
Useful
(1)
 
 
Not useful
(0)
 
 
report
 
FIRST ANSWER
Qualification for mortgage is not based on your marital status. As a matter, it's a violation of fair housing and lending practices to discriminate based on marital status. Whether you qualify for a loan depends on your credit score and your debt to income ratio. The fact that you are a first time buyer may help you as you may qualify for a first time buyer program. You should get in contact with a mortgage agent who can help you determine what loan programs are available to you and how much or a loan you can qualify for.

Fri Aug 31 2007, 21:37
Web Reference: http://www.go2kw.com
 
Useful
(1)
 
 
Not useful
(0)
 
 
report
 
[+] Save this question Send this question to a friend
Permalink: http://www.trulia.com/voices/Home_Buying/Is_it_hard_for_a_single_mother_to_get_approved_for-8332--recent