How do I get a home loan for a single mom with poor credit and no money down?

Single mom. 3 children. Low Income. Poor credit. Currently pay rent on house I want to buy. No money to put down. Want to pay lower mortgage payment instead of rent. Need 105% financing to cover closing costs.How do I get a home loan for a single mom with poor credit and no money down?
Just because you have ';bad credit'; does not neces.. mean that you are not qualified for a home...there are many home loans that are just for this particular thing. Also, there are homes that are available for those with a lesser income...the mortgage amount is normally based on your income and the government helps with the costs etc. Also, with closing costs, you can get your seller to pay all closing costs(normally) if you are willing to pay the price that they are asking for the home(or even if you are willing to pay close to the asking price). Everything in buying a home is all about negotiations...you can negotiate much more into a deal than you think! Go to some banks and get information on what loans are available, then start looking at homes that are withing your price range and then go from there! The best thing that you can do before you even go to see homes is to get a ';pre-qualification'; letter from a bank...the process involves them looking into your credit history, your current income level, and all your debt to see how much of a home you can afford...this is the best thing to do before you go to see homes! Good luck!How do I get a home loan for a single mom with poor credit and no money down?
If this is the first house you have bought, you will qualify for 100 % financing.
Check your state resources if that doesn't work look for a federal grant
Lean towards mortage brokers versus banks. Most brokers have connections to several lenders so they will be your better shot of finding a solution for you needs.
you can get a HUD or FHA home through your housing authority and in many cases your situation may put your name on the top of the list. Just fill out an application from your city or town's housing authority and thay will put you on the list for a home. They will send you out to look at the homes that they have listed and when you find one' tell them and you can get it with no money down because they are paid by the government, and your mortage will probably be as little as 300.00-475.00 or less a month. There are a lot of HUD and FHA homes out there. You may have to pay 20.00-25.00 for the application because there are so many homes available and you will be guaranteed one of them. Also, there is a listing for HUD homes in the newspaper