What are the quickest way to buy a house as a single parent?

What are the best companies to try to get a loan with? Is there anyone able to evaluate you on something other than credit? Where are some of the best places to live as a single parent? What do banks look for as a single person buying a home? how much money should you try to save? How long should you atleast be on your job? Any xtra tips? Hints? short cuts? Things you did?What are the quickest way to buy a house as a single parent?
Your best bet is to talk to a local mortgage broker. I've broken down the 4 things that mortgage companies look at when making a decision on your application as:





income


assets


credit


property





I tell my clients that its like a chair with 4 legs. You need all to be a decent length for it to work. If one is short but three are long, you're still good.





I plan on going into detail on these at my blog pretty soon.





For income, you want 2 years job history in a similar line of work. Ideally the banks like to see one job. If you increased in income on your job changes, that's a good thing to the bank.





Whether you're a single parent, a married spouse, or a polygamist, banks are all looking at one thing: your debt-to-income ratio. If you can afford the house comfortably along with all your other bills, you should be ok.





You'll want to put assets away in a bank account if you can. This is not always an option for some people, just do the best you can. Having a 401k or IRA will also help to get you an approval.





Your loan officer will pull your credit and determine exactly what you need to do to get qualified for a mortgage if you're not already. Paying credit balances down to half of their credit limit will increase your score as well as paying off very recent charge-offs and collections.





Lenders love Single Family Homes. If your credit isn't great try not to fall in love with a trailer or modular. Having a desirable property helps your approval.





If you can balance these four things you should be fine. Read my blog to learn more about what mortgage brokers do and how to set yourself up for an approval: http://explaintome.blogspot.com





Soon I'll be covering this topic. Drop me an email or comment in the blog and I'll let you know when it gets updated.What are the quickest way to buy a house as a single parent?
Try working with a non-profit such as acorn.org they work with a number of different lenders. Report Abuse

Get married to a rich guy. Flirt a lot and meet a rich person, then wait until he proposes, and move into his mansion with 10000 servants!
You should try the Sallie Mae Foundation. They specialize in


helping people finance homes. They will send you free information on how they can help you. You can reach them at www.salliemae.com. Click on the tab that says ';Additional financial services';.





Hope that helps you!
Banks don't look at marital status as much as they look at income level and credit history. Don't buy a house outside your affordable range.





There are lots of programs around to help you qualify for a home loan. The best thing to do is contact a realtor. Realtors make it their job to help you qualify for a home, and they know about programs that are specific to your area, such as FHA, VA, etc.





You could also qualify for the Habitat for Humanity program. How does it work?


Through volunteer labor and donations of money and materials, Habitat builds and rehabilitates simple, decent houses with the help of the homeowner (partner) families. Habitat houses are sold to partner families at no profit, financed with affordable loans. The homeowners' monthly mortgage payments are used to build still more Habitat houses.





Habitat is not a giveaway program. In addition to a down payment and the monthly mortgage payments, homeowners invest hundreds of hours of their own labor -- sweat equity -- into building their Habitat house and the houses of others.
You should check into non-profit groups that will help you. There are groups such as ACORN that help low income first time purchasers. That can help you get below market rates, no down payment, no closing costs, and other help. Other groups offer classes on homeownership and credit. Once you finish the classes they can provide some assistance with the closing and other costs.
most banks have a first time home buyer deal where people can buy a home for low interest