If you or your family live on a single income, it may seem like homeownership is out of reach, but don't fret - it's still possible! If you're hoping to buy a home, we've outlined a few tips on how you can do so and manage your expenses on a single budget.

BUILD CREDIT & MINIMIZE YOUR LIMIT

Building and maintaining a good credit score will go a long way when it comes time to purchase a home. However, don't be fooled-just because you have a high credit limit doesn't mean you will be eligible to buy a home. Lenders will look at a $10,000 credit limit as if you have $10,000 you can rack up in debt. Lowering your credit limit to $2,000 will have much greater appeal to lenders. BUILD CREDIT & MINIMIZE YOUR LIMIT

Building and maintaining a good credit score will go a long way when it comes time to purchase a home. However, don't be fooled-just because you have a high credit limit doesn't mean you will be eligible to buy a home. Lenders will look at a $10,000 credit limit as if you have $10,000 you can rack up in debt. Lowering your credit limit to $2,000 will have much greater appeal to lenders.