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how can I find a house to purchase with no qualifying

  • February 03 2012 - Riverside
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Answers (4)

You will need to pay cash I believe in most cases. Talk with your local lender and they can give you advise on what might be available to you.
  • February 04 2012
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Ron & Vickie, There are many ways a person can purchase a house with no and I mean NO QUALIFYING. I will give you three.

1. Seller Carry Back with or with out down payment depends on the structure of the deal.

2. Blanket Mortgage: Using one or more property as collateral.

3. Lease Option: Buyer has control of property for a certain amount of time. Depending on the option contract buyer can either buy or sell the property @ the end of the option contract.

OK I will give you one more. But there are plenty more.

4. Using a silent partners/ investors
  • February 04 2012
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Rod, like Aaron said unless you're paying cash, it's not going to happen. We tried that approach a few years ago and now we have millions of homeowners in deep financial trouble.
If you need a loan it's not unreasonable for a lender to ask you to prove you can repay it, is it?
  • February 04 2012
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What do you mean by "no qualifying"? I'm assuming that you mean without qualifying for a mortgage. Pay cash. There is no rule stating you have to finance your purchase. Now if you're looking to circumvent qualifying because you won't qualify and do not have the cash...that's tough. With a significant down payment you could do a hard money loan with poor credit but you're looking at 30%-40% down most likely.

If I'm missing the boat here please explain your question further. AC
  • February 03 2012
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