How to Get a Home Without a Credit Check
- 1). If you have any valuable assets, pledge them as security. A lender will be more willing to give you a loan if they have a great amount of security.
- 2). Lease a home with an option to buy it. This is known as a lease-option and will allow you to make monthly payments like a renter would, while giving you an option to purchase the home after a certain amount of time.
- 3). Get an easy qualifier mortgage loan from an equity lender. This will require you to pay at least twenty-five percent down payment for the home, but your credit will not have to be checked.
- 4). Look for a home with an assumable VA or FHA mortgage. Unless the seller of the home is released of liability for the mortgage loan, your credit report won't be checked or used as a qualifier.
- 5). Find a co-signer for a conventional home loan. This works best with spouses and couples, since most lenders will require to co-signer to take title to the property along with you.
- 6). Get someone to be an equity share co-owner, or make a substantial part of the down payment in return for partial ownership of the home. This scenario is most common with parents and children.
- 7). Use seller financing. Since the seller will carry back a first or second mortgage to finance your purchase, it is unlikely that they will check your credit--the home will serve as security.
- 8). Have the seller guarantee part of the home loan if they cannot finance the entire purchase. A second mortgage on the home will protect the seller since it can be foreclosed if the lender enforces the guarantee.
- 9). Keep the seller of the home as a co-owner so that you can qualify for a new mortgage. This is an option if the seller cannot or is unable to finance the purchase.
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