Posted on: 31st Mar, 2010 01:10 pm
In the market to purchase a home but credit score is not good enough to qualify for a loan. What are your thoughts on Renting with the option to purchase ?
Hi NICHELLEROBINSON!
Welcome to forums!
It is true that with a low credit score, it won't be possible for you to get a mortgage. Renting a property with the option to purchase is a good option. While you go for this option, make sure that you sign proper documents with the seller so that there are no discrepancies later on. You can contact an attorney and he will help you in drafting the agreement.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It is true that with a low credit score, it won't be possible for you to get a mortgage. Renting a property with the option to purchase is a good option. While you go for this option, make sure that you sign proper documents with the seller so that there are no discrepancies later on. You can contact an attorney and he will help you in drafting the agreement.
Feel free to ask if you've further queries.
Sussane