A first time home buyer guide for people who cannot or do not want to get a mortgage. Low down payments, no credit check and homes priced under what you pay in rent.
Banks want strong credit, two years of tax returns and a big down payment, and sellers on the open market often take cash offers first. A lot of first time buyers who pay rent on time every month still cannot get approved.
Seller financing skips the bank. You make a small down payment, often $1,000 to $3,000 on our homes, and pay the seller monthly. One of our buyers moved in with $5,000 down and a monthly payment lower than her rent.
1. Work out what you can put down and what you can pay monthly. 2. Browse homes in your city and compare the payment with your rent. 3. Tour the homes you like, and bring someone handy if you can. 4. Meet a housing specialist to go over the terms. 5. Sign and get your keys.
What is the total price? What is the monthly payment, and for how long? Who pays taxes and insurance? What repairs does the home need? We answer all of these before you sign.
Every listing shows the price, the down payment and the monthly payment up front.
View Available HomesMost first time buyer grants are tied to bank mortgages. Seller financing lets you buy now and look at refinancing later if you want to.
Once you pick a home and the paperwork is signed, it can take as little as 5 days.