Home Buying in Grand Rapids>Question Details

Wandabrown10…, Home Buyer in Detroit, MI

im looking for help with land contract homes, i have bad credit but tired of renting,I'm going through laxington to help clean my credit can some1help

Asked by Wandabrown102482, Detroit, MI Fri Nov 8, 2013

Help the community by answering this question:


Buying a home on a land contract can be a very good way to own a home if you have bad credit. One of the main difficulties here is that property owners will no doubt do a credit check to see how risky you are.

My suggestion is this. First, make sure that you make all of your payments on time for at least 6 months. Meanwhile, try to save as much as possible to put as a down payment on a land contract.

Most land contracts only require a small down payment ($1,000 +/-) but if you can put down more then you show the owner that you are serious. Probably your biggest challenge, however, will be in locating a seller who will accept a land contract. Start by asking owners of homes that are available for rent. Another option which is similar to a land contract is a rent to own... but that is another discussion.
0 votes Thank Flag Link Fri Nov 8, 2013
Cheriewells, rent to own means that every month you make a payment for rent, it builds up your equity (ownership) in the property.
If you would like some in-depth information on rent-to-own, I'd be more than happy to sit down with you.
Zak Vander Ark
(616) 581-0437
Flag Wed Dec 4, 2013
Many sellers want a very large initial downpayment when selling land contract.
Work hard to improve your credit and save up for that downpayment!
Flag Wed Dec 4, 2013
When you get a moment, can you explain rent to own?
Flag Mon Nov 11, 2013
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