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Single Parent Home Buyer Guide

Can child support count as income?

Child support may be considered qualifying income if it is properly documented, typically through a divorce decree, court order, or formal legal agreement, and is expected to continue for the required duration, as per lender guidelines. Requirements vary by loan program and lender.

Can a single parent qualify for an FHA loan?

Yes. Single parents may qualify for FHA financing if they meet the lender's credit, income, debt, and documentation requirements. FHA loans aren't limited to first-time homebuyers, and single-income borrowers aren't automatically disqualified. Careful planning around income, credit, and savings can improve the likelihood of qualifying.

Can down payment assistance be used with an FHA loan?

Some approved down payment assistance programs may be used with FHA loans, depending on the program structure, documentation, and lender requirements. Assistance must generally come from an approved source and be properly documented. Seller-funded down payment assistance is not permitted under FHA guidelines.