---
title: Managing Ownership
description: Managing Ownership On a single item
image: https://22018491.hs-sites.com/hubfs/bank-photo.png
---

![](https://22018491.hs-sites.com/hubfs/bank-photo.png)

#### USDA

# Managing Ownership

 Published Oct 9, 2023 10:58:14 AM | 2 Minute Read

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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.

 

 Related Resources

[![Stock Photo of a Family](https://22018491.hs-sites.com/hubfs/raw_assets/public/UhmResourceCenter/images/DownPPaymentProg.png)](https://blog.uhm.com/resource-center/1-down-payment-program) [1% Down Payment Program](https://blog.uhm.com/resource-center/1-down-payment-program) [ Read More >](https://blog.uhm.com/resource-center/1-down-payment-program)

[![Stock Photo of two people smiling](https://22018491.hs-sites.com/hubfs/raw_assets/public/UhmResourceCenter/images/whatisPmi.png)](https://blog.uhm.com/resource-center/what-is-pmi-and-why-do-i-need-it) [What is PMI? And Why Do I Need It?](https://blog.uhm.com/resource-center/what-is-pmi-and-why-do-i-need-it) [ Read More >](https://blog.uhm.com/resource-center/what-is-pmi-and-why-do-i-need-it)

[![a hand writing](https://22018491.hs-sites.com/hubfs/raw_assets/public/UhmResourceCenter/images/howtoCancelPmi.png)](https://blog.uhm.com/resource-center/how-do-i-cancel-pmi) [How Do I Cancel PMI?](https://blog.uhm.com/resource-center/how-do-i-cancel-pmi) [ Read More >](https://blog.uhm.com/resource-center/how-do-i-cancel-pmi)

# Ready To Get Started?

We are here to help you every step of the way home. Discover how UHM can make your dream home a reality

[![Get Started](https://no-cache.hubspot.com/cta/default/47446724/interactive-184898389419.png) ](https://cta-service-cms2.hubspot.com/web-interactives/public/v1/track/redirect?encryptedPayload=AVxigLLoh8A8alRQQAO3WXqphUVi%2B81U3XenPVFMZfC%2F4EkynFkHBGv%2B%2BaU8Pj71dr0GSIyHp67OzfP7KKv2R%2BU41VdvWDm7EBqbmrtQ64YvYI68pu%2Fpavq75LB%2BCBcYkmelHz4qYEUHY9cqoPVFfL47lZ8OvBRJ4M69YYiNlMIFr1K4Pp7SpzL22sKp4e4%3D&webInteractiveContentId=184898389419&portalId=47446724)

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