If you’re planning to buy a home on your own, you might be wondering how single buyers compare in Washington and nationwide — and what that means for qualifying for a mortgage on one income. That’s the real purpose of this article. We’ll look at trend data around single female and male home buyers, then connect it to practical mortgage guidance for solo buyers who need to budget carefully, prepare for upfront costs, and shop with confidence.
Single buyers come to the market from many different situations. Some are buying their first home, some are purchasing after a life change, and others are simply choosing to buy without a co-borrower. One consistent theme is that buying solo often requires a more deliberate plan for affordability, cash to close, and mortgage qualification. Let’s take a look at some generational trends among buyers according to a recent report from the National Association of REALTORS® (NAR).
NAR conducted a nationwide survey to gather information on home buying trends and created their “Home Buyer and Seller Generational Trends Report”.
One of the key findings provided insight into the marital status of home buyers, and who’s doing most of the buying. Married couples still account for most of the home buying activity in Washington and elsewhere in the nation. But among singles, female buyers bought more homes than males.
Here’s a related quote from the report for the NAR survey:
“Sixty-two percent of recent buyers were married couples, 18 percent
were single females, nine percent were single males, and nine percent
were unmarried couples. ”
On the selling side, married couples also led the way followed by single-female sellers. In terms of sales, single females accounted for more than twice as many transactions as their male counterparts. The gap was widest in the 66-74 age range, in which 20% of sellers were single females compared to 6% in the male category.
Buying alone in Washington often comes down to how comfortably you can qualify and compete using one income instead of two. Even when a single buyer has strong earnings, the mortgage payment, other monthly debts, and everyday living costs all have to fit within one budget.
That can affect several parts of the financing process. Debt-to-income ratio matters more when there is no co-borrower income to help offset obligations like car payments, student loans, or credit cards. Upfront costs can also feel heavier, because one person may be covering the down payment, closing costs, moving expenses, and early homeownership expenses at the same time. And in a competitive market, solo buyers often benefit from having extra reserves available so they can make a confident offer without stretching every dollar to the limit.
None of that means buying alone is unrealistic. It simply means single buyers usually need a clearer plan for affordability, cash to close, and post-closing reserves before they start shopping.
Whether male or female, single home buyers can sometimes run into additional obstacles when purchasing a property in Washington.
But the NAR survey clearly shows that single female and male home buyers can still succeed in today’s real estate market. The key is to make decisions around approval, payment comfort, and cash reserves based on one-income budgeting rather than just aiming for the highest loan amount available.
Along those lines, here are three quick tips for single buyers in Washington:
Sammamish Mortgage can help. We serve clients across Washington, Idaho, Colorado, Oregon, and California. Since 1992, we’ve been providing several mortgage programs and products with flexible qualification criteria to borrowers across the Pacific Northwest. Visit our website to get an instant rate quote or to use our online mortgage calculator. Or, reach out to us if you are ready to get pre-approved for a mortgage.
Yes. Buying a home on one income is possible in Washington, but it usually requires closer attention to affordability, debt-to-income ratio, cash to close, and reserves after closing.
It can be more challenging because there is no co-borrower income to help offset debts. Lenders will look closely at your income, monthly obligations, credit profile, and how comfortably the payment fits your budget.
According to the National Association of REALTORS®, 18% of recent buyers were single females and 9% were single males, while married couples accounted for 62% of recent buyers nationwide.
Yes. National Association of REALTORS® survey results showed that single female buyers purchased more homes than single male buyers, and single-female sellers also outpaced single-male sellers.
It depends on the loan program. Not all buyers need 20% down. Some mortgage programs allow down payments in the 3% range, and certain eligible military borrowers may qualify for 0% down options.
Gift funds can often help with the down payment, which may reduce the upfront cash burden for a single buyer. Preserving more of your own funds can also help with closing costs and post-closing reserves.
Build a clear cash plan first. That usually means reviewing your one-income budget, estimating down payment and closing costs, and setting aside extra funds for moving expenses, repairs, or payment changes after closing.
Pre-approval helps show what you may qualify for on your own income and lets you compare your maximum approval with the monthly payment you actually want to carry. That can make your home search more realistic and your offers more competitive.
Single buyers should usually plan for closing costs, moving expenses, and early homeownership costs in addition to the down payment. Closing costs often range from about 3% to 5% of the purchase price, though the exact amount can vary.
That rule is not part of the mortgage guidance discussed here. For single buyers, the more useful approach is to focus on payment comfort, debt-to-income ratio, cash to close, and keeping enough reserves after the purchase.
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