The most common way that you can buy a home if you don't qualify for a mortgage is rent to own. Many investors use this approach by offering a home, town home, or condo for a rental price per month with some percentage of that rent applied to a down payment at the end of the agreed upon term. The benefits for you would be building up your credit in those few years so that you can obtain a mortgage, plus accruing a down payment for your future purchase of that property. At the end of the rental term, you may exercise your purchase option, or you may walk away.
I can assist you in finding those rent to own properties or determining if you qualify for a mortgage. You can call me at 312-391-4438 to discuss further.
- Cynthia Doehler
Coldwell Banker Honig-Bell (Homer Glen)