to own uses a percentage of your rent as a down payment. This can be used as your 3.5% down if you or the town you buy in does not qualify for USDA loan.
Unfortunately, investors now view credit as one of the primary factors when considering credit worthiness. There are ways to increase your scores quickly if you have a little extra money to pay down your exisiting debts. Also, you only need 3.5% down if it is a primary. Rental properties if you are not going to live there require up to 30% Contact me if your interested in talking to someone local that knows how to help you improve your scores and we will work with you to make buying your first home a reality.
Cynthia "Charlie" Quimby
Realty of Maine
458 Main Street
Bangor, ME 04401
It sounds like you are looking for a rent with an option to buy. They are available. There are many different options, and factors to be considered. For example how long will it take for you to increase your credit rating?