Q:

What are some tips for becoming a homeowner?

A:

Quick Answer

Some tips for aspiring homeowners include looking at monthly income and expenses to determine which houses they can afford, saving for a down payment for at least 3.5 percent of the house's cost and taking a look at their credit scores to improve the likelihood of getting mortgage approval, suggests Yahoo Finance. Those who want to become homeowners should also seek pre-approval for a mortgage and seek advice from lenders.

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Full Answer

Aspiring homeowners should also seek help from a realtor to find a home that fits their budget and family's needs, suggests Berkshire Hathaway HomeServices Verani Realty. The realtor can not only help with house hunting but also with examining financing options, estimating costs and getting a home inspection.

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