At some point we have houses in all areas of town. If we don’t have what you are looking for, we can contact our network of investors to see if they have the home you are wanting. There are close to 150 investors that we work with when we don’t have a home someone is looking for.
Finding that right home with bad credit isn’t easy. You have to find someone that is willing to work with you while you re-establish your credit. Chances are finding that right home is nearly impossible. Unless you have someone like us that is able to pound the pavement and dig up the home you are looking for.
Here are a few scenarios of the different types of financing we can provide, with no banks needed.
If you don’t have the required down payment, we can still get you inside the home, but we will have to work out a payment plan for the down payment.
Average credit with no job history. (Perfect for self-employed less than two years.)
Complete owner financing, no banks needed with this homeownership program. If you have the above criteria, you can get into one of our homes where we become the bank. This program is perfect for buyers with credit scores ranging from 580-630.
Bad Credit with work history. (Few charge offs, bankruptcy, foreclosure, etc.)
With this program job history is required. And complete owner financing is still available and banks are not necessary. Ideal for first time home buyers with credits score of 520-579.
Bruised Credit. (Nothing good on credit)
Complete owner financing in this case requires a year lease in your home then afer the year you can switch to owner financing. We just won't to make sure you are ready for a home before taking that huge step. When the year is up, we will go over the paperwork and proceed to closing.
All of our owner finance packages come with tips on improving your credit score so whenever you are ready you can refinance to a better loan through a bank to really boost your credit.
Don't have the whole down payment?
If you don't have the whole down payment for one of the above packages we can work out a plan that will allow to move into the home and once the complete down payment has been received, the owner financing will start and you will receive the amorization schedule also known as the coupon book. The coupon book shows the payments and where you are after each payment. It also breaks down the interest and principle being paid down for tax purposes.
For you to be considered for the owner finance package you need at least one third of the down payment and you must be able to pay off the remainder down payment within six months. The minimum partial down payment accepted is $2,500.
Bank Financing for people with not so good credit.
We have a few lenders that will loan to first time home buyers with low credit scores down to 520. Match with our down payment assistance you can get into your own home for $1,000. These lenders we can put you in contact with can qualify some people with some serious credit issue and get you a really good interest rate.
Their criteria changes all the time but the last time i checked with them as long as you have the following you might be able to get a loan even with bad credit and foreclosure or bankruptcy on your record:
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