The Options and Opportunity Available to Singles Hoping to Buy a Home

Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI


The Options and Opportunity Available

to Singles Hoping to Buy a Home



Here's a statistic I find fascinating ...

According to a recent survey released by the National Association of Realtors (NAR):  




Single-female homebuyers outpace single-male homebuyers by a margin of over          2-to-1. 


The percentages reported were 18% single-female to 7% single-male.




These statistics certainly back-up what I personally experience as a Loan Officer in New Lenox - Chicagoland.  The number of contacts and requests I receive for information and Pre-Approvals from single females far outweighs the number received from single males.


While not a statistic reported in this survey, here's something I also encounter when working with single home buyers ...  


Whether female or male, single buyers often have a support person at their side assisting them through their home buying and financing process.  This is especially true when the buyer is young or purchasing a home for the first time.  


The support provided them often comes via a friend or family member serving in the capacity of confidante ... someone accompanying the home buyer during mortgage discussions or home viewings. In these instances, the support person serves as a sounding board for ideas and opinions only.


Some fulfilling this capacity provide a more substantial form of support.  The support and assistance they offer are derived from their own past experiences in the buying of a home or the financing of it.  


Still, others provide monetary support.  That monetary support is delivered in a variety of ways.  


That Monetary support can come in the form of:


  • Gift Monies:

a.  Gift Monies typically come from parents or other family members, but others may "gift" as well.  

b.  There must be no expectation of repayment tied to the receipt of Gift Monies.  

c.  A "Gift Letter" stating that fact must accompany the transferring of any Gifted Monies.

  • Serving as a Co-Buyer/Co-Borrower:
     a.  Co-Buyer(s)/Co-Borrower(s) can be on a Mortgage/Sign a Real Estate Contract in order to help a Buyer(s)/Borrower(s) that will occupy the home purchased.

     b.  Co-Buyer(s)/Co-Borrower(s) can provide the Income and Funds to Close on a Mortgage. In these scenarios, as long as the Borrower(s) credit qualifies, the Borrower(s) can be indicated on the Mortgage as the Primary Borrower(s) and occupy the property while depending on the Co-Borrower's Assets and Incomes for Loan Qualification.

     c.  This type of loan is often seen used by parents with children/students attending an out-of-state college.  The parents provide the Down Payment Funds and the Income (or majority of it) required to qualify for a specific loan amount.  These purchases are typically completed with a 20% Down Payment or more.


  • Serving as a Co-Signor/Co-Mortgagor: 

     Co-Signor(s)/Co-Mortgagor(s) are not uncommon in purchases utilizing FHA loans. 


     In these instances:  The Primary Borrower(s) typically doesn't qualify for a Mortgage on their own, but a family member, parent, or boyfriend/girlfriend can provide credit history, employment history, income, Down Payment Funds, that are treated equally to the Primary Borrower(s).


     In other words, the combined incomes, combined debt, combined funds for Down Payment/Closing Costs can be considered collectively ... even though the Co-Signor(s)/Co-Mortgagor(s) is not intending to live in the home being purchased. 


An extremely important message lies within the info provided above ...  

What is that?

There are many mortgage scenarios available for consideration, should you hope to buy or finance a home ... 


Those mentioned here barely scratch the surface of the myriad of options and lending scenarios currently available to single home buyers, as well as others financing. Depending on YOUR personal finances, there could well be other lending options that could prove beneficial and assist you in buying a home.  

But the fact remains, whether a single female or single male dreaming of buying a home ... if you don't inquire or don't investigate your options, you'll never know if and what possibilities exist.  So my question for you is ...  


Why continue to wonder??


Take action.  Reach out.  Ask your questions now.  Discover the facts surrounding your ability to buy, whether now or at some point in the future ... 

* Hoping to Buy or Refinance a Home in New Lenox or elsewhere in the Chicagoland area? 

Contact me! 

I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf. 
I'm easily found at:

Gene Mundt
Mortgage Originator - nmls #216987 - IL Lic. 031.0006220 - WI Licensed #216987
American Portfolio Mortgage Corp.
nmls #175656
Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281






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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656


Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 


Your Referrals & Testimonials are Always Greatly Appreciated! 


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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Debe Maxwell, CRS 07/06/2018 09:12 PM
Home Buying
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Chicago Area Real Estate BUZZ!
1st Time Buyers
The Single Home Buyer and Seller
mortgage options
single women homebuyers
single female home buyers
talk to a lender
single homebuyers
opportunities to finance
singlemale homebuyers
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opportunities to buy a home

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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

As always, Gene, a well thought out and presented post. This trend of  single women outnumbering men in the purchase of homes was identified a couple of years ago... and I've been watching it so not surprised by your numbers at all. And I'm old enough to remember the days when women couldn't buy anything without a husband or father co-signing... so I love, love, love this trend!

Jun 06, 2018 01:15 PM #1
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

I'm seeing it here in Chicago (downtown.) My daughter, my niece, their girl friends have all bought condos in the city. The guys will come along at some point I hope!

Jun 06, 2018 01:57 PM #2
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for sharing the information. I have sold homes to many single women

Jun 07, 2018 03:58 AM #3
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

What an insightful article, Gene. I'm not surprised that single women are more apt to purchase a home. I helped a single mom purchase a home this month and it was so gratifying. 

Jun 30, 2018 08:58 AM #4
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

This is definitely a trend here too, Brother Gene! I have to say that my son just bought a home and our wedding gift came in the form of 'gift money' for his downpayment. So, I have just been involved in his home purchase, contributing to the 'fund' and am still involved in helping with the renovations! Of course, I'm having the time of my life too!

Great read, as always! I hope you and yours have a wonderful weekend...

Jul 06, 2018 09:04 PM #5
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Options are good and that regard! Very basic but effective all the more. Great post!

Jul 06, 2018 11:07 PM #6
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

I just realized I have never followed you!  Well I fixed that today!  Thanks for this article - your posts are always useful to share with buyers. 

Jul 07, 2018 04:04 AM #7
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi ,

I'm definitely seeing this trend in Austin. Single woman want to buy and often have good jobs and not interested in living in an apartment. I just wrote an offer for a man yesterday who is divorced and trying to get closer to his kids to be an involved parent. With the divorce rate at 50% I'm seeing lots of moves in the market for both parties.

Jul 07, 2018 04:41 AM #8
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Always good to have options in anything but especially in buying a home. Thanks for the post!

Jul 09, 2018 08:00 PM #9
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Making lots of movies the whole key a lot of times but some people over complicate it that way, Dorie. :) Dorie Dillard

Jul 09, 2018 08:53 PM #10
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

My observation and the fact that Americans are not savers but consumers leads me to believe that few and not many single women in particular would qualify to purchase a residential property. 

Most unfortunately can't comprehend how money works and are unwilling to temporarily make and maintain sacrifices. Naturally, there are exceptions, especially in areas where real estate is affordable.

However, there are areas like Orange County where property values make it almost impossible to own without financial assistance from the buyers parents. Regardless, let's hope the trend continues to grow and compound because real estate continues to be the most reliable asset to use leverage and grow wealth. 

Jul 09, 2018 11:07 PM #11
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience
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