The path to home ownership as a single income earner

A recent article from touts that single women are more likely to own homes than single men in nearly all states.

(Read more about that here)

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!

Watch the full Video with Michele and Alexa below!