When you start looking into the different home loans that are out there you may be wondering if there is a specific one for people like you, who are single parents. The answer is yes and no. There are many lenders that are willing to offer special loan programs to single parents in order to help them get on their feet and enjoy the pride and joy that comes from home ownership. Many single parents assume that buying a home simply is not in their future but this doesn't have to be true. Whether you have credit problems or not, you will find that a lot of mortgage brokers as well as lenders want to help you out.
Finding Single Parent Home Loans
There many not be widespread loan programs that are specifically for single parents, but when you are single and you are ready to buy a home you will find that there are many home loans out there for you to take advantage of. Many people who are single and raising kids on their own simply do not have a lot of extra money floating around and because of this they assume that they do not have access to the funds that will make home ownership possible. The great news is that there is hope for you to buy a home!
As a single parent you will find that there are many loan programs out there to get people like you back on their feet and on their way toward experiencing things such as home ownership and even going back to school. Lenders overall rally around single parents that want to provide a good life for their kids, so when you are single and you want to own a home you shouldn't be ashamed of the fact. Many single parents have found that it actually helps when they mention that they are a single parent because their lender or mortgage broker may offer them help that is specific to their situation.
As a single parent you are probably looking for home loans that will allow you to move into a home affordably. The great thing is that there are loans out there, such as FHA loans that will allow you to get the financing that you need with very little in the way of a down payment, perhaps as much as three percent, and then limited closing costs and a decent interest rate. Many single parents are able to take advantage of other programs that will help them pay closing costs as well as the down payment so they could move themselves and their children into a home without paying even one penny out of pocket.
Today home loans are available to a wide variety of people, including single parents and others that often assume that they will never experience the pride that comes with owning their own home. Instead of assuming that you couldn't own a home you should contact a lender or a mortgage broker that specializes in helping single parents get into homes, you may very well be surprised that you could own a home, and soon! Don't give up before you get started because you and your children deserve to have your own home if that is what you would like.
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