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Home Loans for Single Mothers – Factors to Consider Before Getting One

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Single mothers often find it difficult to make ends meet. They need to pay for the rent and other bills, at the same time they need to provide for the needs of their kids. This includes providing them with food, clothing and other basic needs. With their meager income, it would be hard for them to afford buying a home for themselves. Most single mothers even do two part-time jobs to finance the need of her kids.

Although it can be difficult to afford one, getting your own home can be a big help for a single mother. You will no longer have to worry about the rent and you can raise your kids in a better environment. It can be difficult to purchase a home, but it isn’t impossible. There are options available to you that can help you acquire a suitable home. One of these is by getting a home loan specifically tailored to meet the needs of single mothers. However, there are certain factors that you need to consider in order for you to have a home loan approval.

Income

The first thing that you should consider is the amount of money that you earn from work or other sources of stable income. When getting a loan, it is important that you adhere to the payment plan that is given to you. Late payments often have fees which add up to your debt.

Aside from the late fees, late payment or defaulting on your debt can cause negative rating on your credit history. This can cause quite a problem, especially if you intend to get another loan in the near future.

Credit Rating

Since single moms often find it difficult to make ends meet, and at times lag on their payments. It wouldn’t be a surprise to find out that you may find that you have a bad credit history. Having bad credit rating may make it very difficult for you to acquire a loan from banks and other lending companies. This is especially true if you’re planning to get an unsecured loan to finance your housing needs.

However, there are lenders that can cater to your needs, by providing you with loan services such as home loans for single mothers with bad credit. They can offer you with bad credit loans. However, you should take note that bad credit loans often have involve having higher interest rates and a stricter repayment plan.

If the need for a housing loan is not that urgent, you may want to rebuild your credit rating before applying for a home loan. You can start by getting a copy of your credit report and having the obsolete information corrected. You should also try to pay up your debts and bills on time. If you have a credit card, make sure not to over the credit limit, and always pay on time. Try to adjust your lifestyle so that you can save more money. in time, this can help improve your credit rating.

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Tesla CEO Elon Musk Tweeted Dogecoin to Reduce its Fees

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Tesla CEO Elon Musk Tweeted Dogecoin to Reduce its Fees
  • Tesla CEO Elon Musk Tweeted Dogecoin to Reduce its Fees.
  • Billy Markus planned to release a Software upgrade.
  • According to Musk, the Dogecoin upgrade Core 1.14.4 is critical.

The co-founder and CEO of electric car maker Tesla and rocket manufacturer SpaceX is Elon Musk has supported the meme token Dogecoin by revealing what will help the growth of cryptocurrency. On Wednesday, Elon Musk commented to Billy Markus aka Shibetoshi Nakamoto’s Tweet, by suggesting to lower the fees to make the crypto a more viable payment option for everyone.

Moreover, the price of the Dogecoin continues to drop, he commented, “super important for DOGE fees to drop to make things like buying movie tix viable”.  

Accordingly, In May Elon Musk noted that he was giving ideas and working with the Dogecoin developers to increase the system transaction efficiency. The co-founder of Dogecoin, Billy Markus but he no longer working on the project. He accepted and agreed with Elon Musk’s tweet and planned for a release of a software upgrade.

More so, currently, Dogecoin co-founder Billy Markus demanding operators to upgrade to Dogecoin Core 1.14.4 so it will reduce the fees to become the default setting. The Dogecoin update which was released in August contains outstanding performance improvement as well as bug fixes. According to Musk, the Dogecoin upgrade Core 1.14.4 is critical.

Current Market Status of DOGE

At the time of writing, as per CoinMarketCap, the price of Dogecoin (DOGE) is trading at $0.2069 with a 24-hour trading volume of $2,227,558,097. In the last 24-hours DOGE decreased 6.57%, similarly, in the last 7 days DOGE bounces back 14.93%. And it dropped 26.20% within a month.

And if this drop continues then it will fall to support level $0.16. The next support level is $0.14 and $0.12. If DOGE breaks $0.23 then it will surge to the resistance level of $0.26 and it might also hit $0.30

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Billionaire Mike Novogratz Says He’s “Not Nervous” About Crypto Sell-Off

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Picture of five crypto coins lined up

The crypto market has been subjected to major sell-offs since assets began to crash across the board. September which has been a historically bloody month for the market has stayed true to nature as various cryptocurrencies suffered crashes that dragged the market down. Due to this, over $1 billion longs have been liquidated in the market since Monday.

Billionaire Mike Novogratz was on CNBC to talk about the current market trends. But unlike most investors in the market, Novogratz does not seem at all worried about the numerous price dips rocking the market. Mike Novogratz is the CEO of Galaxy Digital, a hedge fund that manages assets ranging from traditional assets to cryptocurrencies.

Nothing To Worry About

Talking about the sell-off in the market, Novogratz explained that tensions were high in the space due to the current regulations talks by the SEC. He pointed to the developing Evergrande crisis, which Tether had been linked to, as also contributing to the sell-offs, which had put investors on edge. The CEO also pointed to long positions that were a little too optimistic, saying, “I think the market got itself a little too long.

Related Reading | September Leaves Behind Trail Of Blood, Bitcoin Long Liquidations

Novogratz sees the current market dips as a buy-the-dip opportunity. Simply stating, “I’m not nervous” in response to the bleeding market. In addition, the billionaire sees the Treasury introducing stablecoins which are going to be backed by Fed banks. “That’s going to be something we watch over the next week to three months.”

Crypto Market Holding At Critical Levels

Noting the crash, the CEO pointed out that the top two coins in the market had held at their critical positions. Spelling good news for the market. Following the Monday crash, bitcoin had held above $40,000 and Ethereum held up above $2,800 and Novogratz said, “As long as those hold, I think the market is in good shape.”

Related Reading | Bears Lose Hold On Market As Bitcoin Breaks $44,000, Crypto Market Tops Up $200 Billion

Both these assets had recorded massive losses following Monday’s opening. And bitcoin alone had seen over $800 million long positions liquidated in response to this. Ethereum had not fared any better in the market as the bloodbath had spilled over into altcoins. But despite this, the billionaire remains bullish on the market.

Another important factor for the billionaire was the amount of both public and private capital that was pouring into the space. At the beginning of the interview, Novogratz had mentioned that the crypto market had moved on from the story of bitcoin but has moved on to Web3. And investors, in a bid to not miss out on what could very well be the next internet, have funneled more and more money into the space.

Crypto total market cap falls back to $1.8 trillion | Source: Crypto Total Market Cap on TradingView.com
Featured image from Investopedia, chart from TradingView.com
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Crypto Market Cap Skyrockets 5.3% to Hit $2.05 Trillion

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Crypto Market Cap Skyrockets 5.3% to Hit $2.05 Trillion