Many of your friends have partnered up and married, buying homes and having kids. If you’ve reached a certain age, some of them have even divorced. Maybe you’re not interested in getting married or past relationships haven’t worked out.

Just because you’re single doesn’t mean you’re not interested in homeownership. Without a combined income, expect to jump through some hoops to purchase a home. Here are some steps to take to buy a home if you’re single:

Determine What You Are Looking For

When considering home ownership, ask yourself what kind of lifestyle you want to live. If you plan on moving around every couple of years, you probably shouldn’t own a home. Do you want to live in an urban area where you can walk around? Do you need a yard for your dog? What are your other financial goals?

Pay Off Your Debts

Ideally, you’ll need to save 20 percent of the cost of a home to make a down payment. However, before you even start doing that, you want to pay off as much debt as possible. This includes student loan debts, car payments and credit card debt. When you have as little debt as possible, your price range will increase and you’ll be able to obtain the best mortgage loan rates.


In order to pay off your debt and to save money, you’ll need to budget your expenses. Where can you trim the fat off your spending, so to speak? You’ll probably need to cut back on eating out or going to bars. You might need to move into a smaller property in the meantime or look for other ways to lower your expenses.

Consult a Mortgage Broker

If you’ve finally paid off your debts and saved up enough money for a down payment, now is the time to consult with a mortgage broker. You could apply for a loan through a mortgage lender, but the application process is time-consuming and limits your options.

On the other hand, a mortgage broker will do the hard work for you and shop around several financial institutions to find you the best rates to fit your budget and lifestyle. We recommend using salary-based mortgage brokers to ensure they don’t receive any kickbacks for certain loans and steer you in the wrong direction.

Find a Good Realtor

When finding a realtor, make sure to choose one with experience working with first-time buyers in your price range. The right realtor will be able to focus specifically on your budget range and taking your needs into account. Looking for a home takes infinite patience, so make sure your realtor is up to the task.

Just because you’re single doesn’t mean you can’t own a home. By taking these steps, you can move into the home of your dreams. Our independent mortgage brokers in Scottsdale can help you find the best mortgage rates today so you can own a home. We hold honesty and integrity as our highest standards, which is why all our mortgage specialists are salary-based. Contact Scout Mortgage today for a free appraisal.