Buying a home is a cumbersome process because prospective buyers have to go through many legal and financial formalities. But did you know the biggest challenge that buyers face when they are in the market looking for a home? Well, the answer is obvious: Qualifying for a mortgage!

According to a recent NerdWallet report, there were nearly 600,000 mortgage denials in 2016 as per the most recent data filed under the Home Mortgage Disclosure Act.

Of renters with homebuying concerns, 38% are worried about qualifying for a mortgage, the report found. Debt-to-income ratio was the top listed reason for loan denials, followed by credit history.

What it basically means is that financial missteps from the past prevent the majority of prospective home buyers from fulfilling their homeownership dreams. For example, if you missed your credit card payments for a few months, this mistake can haunt you for a long time and cause you to disqualify for a mortgage. Sounds a bit harsh, right? Well, that’s what happens if you don’t have a good credit score.

Other reasons for loan denials include non-verifiable income, foreign nationality and identity theft.

Here at Buyer Investor Match, we believe that if someone has put his or her financial life back in order, he or she should have a shot at homeownership. This is why our program enables those who can arrange for a 15% down payment to buy any home they want with owner financing.

Owner Financing: A great alternative

People struggling with credit challenges can easily buy a home with owner financing in Texas.

Since an owner financing purchase contract is fully customizable, the seller may agree to finance you without asking for a good credit score.

You will pay a slightly higher interest rate, but your regular payments to the seller will help you to build your credit as they will be reported to credit bureaus in most cases. You can refinance and take out a mortgage from a conventional lender whenever your credit score is good enough to qualify for a mortgage.

Our program helps credit challenged people to buy ANY home they want. An investor from our network buys ANY home you want and owner finances it to you. It means that you don’t need to find a seller who is willing to owner finance in Texas.

Interested in learning more about our program? Click the ‘Get Started’ button below for a free, no-obligation consultation: