I am desperetly trying to find a way to purchase the house of my dreams, it has been on the market for 3 months and the price went down by half of asking price. The only bad thing is that credit is a matter (mine is fair) and we don't have the 10-20% of what banks ask for. We are working on getting our credit up to where it needs to be but it takes time and I cannot wait because I'm scared the house will not be available anymore. Income is not an issue since we have reliable jobs, but is there a way for people like me to get any help on purchasing a home these days? Need advise asap. :confused:

Can you find out if the owners/bank, whoever, can make a deal with you for rent to own? This way, you could be working towards owning it, until you get enough money together to purchase outright.

Tick

You have two options

1) talk the owners into taking back a mortgage for what you don't have.

2) See if the owner will accept a contract for deed. In a contract for deed, you make payments to the owner until the purchase price is paid off. Some contracts have a balloon payment after a few yuears given you time to build up credit to get your own financing.


You may have to offer more than the current asking price