Looking to rent to own homes with bad credit? Hello. I'm looking for a rental property in Shelby Township, MI (48316). I noticed that there are some vacancies in the field but I am not able to qualify for a mortgage at this time due to extremely poor credit. I was wondering if by chance there are programs and individuals who could help me in my situation? I know about restoring your credit programs and stuff like that but I am in need of something like ASAP 1 August. All advice and suggestions are greatly appreciated. Thank you in advance.
If you have money (5-10000.00), you can rent with option to purchase 2 years, some owners will rent you home with an option to purchase, even if you do not have money, but your monthly rent will be higher. If you have 5% -10% in PMT and are working, some owners may pay the owner, and in some years, when you fix your credit, you can refinance for better rates. Thus, you can always
call a realtor, they will help you negotiate the transaction. Good luck!
Find someone willing to sell you a lease to purchase home will be just a matter of finding the right vendor. I would recommend a call around a few estate agents and let them know what you are looking for chances are that someone has probably heard of someone who is willing to make such sales. In addition, you can consider purchasing a home via Land Contract. This will allow you to buy a house now and pay the vendor each month for the mortgage and the next year or 2 when your credit improves you will fully finance the house in your name.
Posted on March 31, 2010.
