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Rates are flat today. Today’s comparison mortgage rates with no lender fees are 4.00 % on a 30 year, 3.375% on a 15 year and 3.125% on a 10 year. (click here for details)

OK – Today’s topic is about buying a home as a single parent. Now, whether you are single by choice or by divorce, taking the giant step to buy a home can be quite an undertaking.

But it’s one worth your while for both you and your family. Because as we all know, buying a home is as much about security as it is about smart investing.

Check out today’s video:

Now there are a few things to keep in mind before you venture into the home-buying process. It’s best to consider both your financial and family’s needs … realistically.

First it’s important to figure out what your real budget is. REALISTICALLY! Even though your lender can approve you for the four-bedroom with a pool and a finished basement doesn’t mean that is what you should buy.

You know your finances better than anyone. Keep your payments within your budget. A good reference point would be if you are paying $1000 for rent right now, and you are still able to set $500 aside each month AFTER you are maxing our your 401K, then your max total payment should be around $1200.

Make sure you are still able to set funds aside each month for a rainy day or when little Tommy needs braces.

You also want to make sure you have six-month reserve fund in your bank account after your down payment. Don’t break the bank.

Do you need down-payment assistance? Well, guess what? Most states and some local townships offer a variety of government programs that can help you with that.

Don’t make a lot of money or have a down payment? Not a problem. The USDA loan is a great option for you. However, you must still qualify for the payments and live in a certain area that is USDA approved.

There are a lot of different options for buyers out there no matter what their situation may be. And if you are a single mom or single dad, it shouldn’t be an excuse not to buy a house. It should be the reason you do buy one.

You just need to be smart about how you approach it.

And if you are a D.I.N.K. (Dual Income No Kids), and you are not house hunting right now, you should be shot. Well at least yelled at in a very stern voice. What are you waiting for? Mortgage lenders and Realtors LOVE DINKs.

If you are looking for some housing financial assistance for your specific state check out this link. >>> (

If you thought this was good information or worth discussing, help me bring transparency to mortgage lending by sharing today’s episode on Facebook or Twitter.

Let’s change the way people shop for a mortgageā€¦forever!

– Mike

PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below. Daily comparison rates, calculators, and other cool features are available in the free Rates in Motion LoanApp by going to your smart phone and clicking on this link, activation code is 9203780002

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