Where can I find “non-traditional” help for a home loan?

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I have found a home being offered for sale VERY cheap, but I have very bad credit and no money to put down on it for a traditional mortgage. Does anyone know some “non-traditional” ways to get a long-term loan for a home purchase? I need about $80K.
I am located in Texas and am looking for legitimate “un-traditional” or creative financing to purchase this house
Also, owner financing is out of the question since the bank owns it on a foreclosure.

4 comments to Where can I find “non-traditional” help for a home loan?

  • Fred F  says:

    They will use the term “Hard Money” , that equals very high interest rates.

  • My Take on It  says:

    Yeah, you ask the owner to do a lease option for you

    You will be hard pressed to find any type of financing until your credit is cleaned up and you have a down payment. Even a hard money lender is going to want a down payment of some sort.

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  • Beverly S  says:

    There are no loans available for people with bad credit anymore. Do not use any of these scammers who offer you loans on here! You will need a 620 credit score & 3.5% down unless you can go USDA or VA (which have no down payments). The 620 score is pretty much set in stone these days. Sorry!

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