A recent article from Forbes.com touts that single women are more likely to own homes than single men in nearly all states.
We at Hatch Homes felt this was a great opportunity to encourage single-income earners, who often feel that homeownership may not be possible for them, to start taking active steps toward their homeownership goals. It is possible to own a home and be a single income earner!
Portland is Affordable
Portland is the most affordable west coast city of its size, and, with inventory picking up, there are increasingly more options. Portland is also a city known for its singles and ranked in the top five cities for singles as recently as November 2022, according to WalletHub. There are many single-income earners in Portland and we at Hatch Homes have helped many!
The First Step
The first step is to talk to a lender. It’s no longer necessary to have 20% down payment and there are downpayment assistance programs to aid first time homebuyers. However, you’ll never know what you can afford if you don’t start by connecting with a lender who can take a look at your credit score, debt-to-income ratio, and other factors to determine what you might qualify for.
If you don’t qualify for a mortgage, our lender partners can set you up with a plan and a timeline to execute that plan.
Alternative Options
Another great option for single-income earners is to buy a condo, build some equity and continue to save, and then use that equity and savings to buy a single family home down the road.
As we always say, real estate is a long game. So singles! Let’s sit down and talk through your goals and then make an attainable plan for long term success! Click here to get started!