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by Anonymous on October 25th, 2005

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Is it easier for a couple to get a mortgage if they're married?

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  • by scymitar72 on October 25th, 2005

    scymitar72

    It all really does depend on income and stability, as stated in a previous answer, regardless of whether or not the mortgage applicant is married. In fact, the number of unmarried home buyers has sharply increased from just 15 years ago. The following is an excerpt from article published in an online magazine for real estate professionals:

    http://www.therealestatepro.com/articles/articles_05/mccrea.html

    "According to SMR, single borrowers have grown steadily as a portion of all homebuyers who use mortgage financing since 1990, when they were only 26.7% of the home purchasing market. That number reached 43.2% by 2000, and 46.7% in 2002 (the last year for which hard counts are currently available). According to SMR, the statistical trend line suggests that this will be the year when the percentage of single borrowers reaches over 50%.

    “The rise of single homebuyers is one of the biggest demographic changes in recent American history,” says SMR President Stuart A. Feldstein. “But this change has gone almost unnoticed by demographers, economists, and marketing executives.” Because of this, Feldstein says typical advertising for homes continues to show happy young couples with their happy children scampering about the yard. “In reality, such homebuyers are becoming a minority group.”

    It's interesting because it's written to a real estate professional; it's like getting the inside scoop, ya know? If you're seriously interested in home buying for the single person, spend some time and research this on your own. It will demystify the process somewhat.

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