There are a few ways that you can buy a home with no credit check. Finding the option that is right for you will take a bit of exploring. However, here are three options that you may consider in order to get into the home right away without needing a credit check.

The premises are basic but you will need to do a little research as to the fine details of qualifying.

1. Rent or Lease to Own Options.

The rent to own option is very popular right now. Basically how the rent to own or lease to own option works is that you are basically a renter for a specific amount of time. Some programs will require that you work with a credit repair service in order to be part of their program for a certain length of time. An agreement is written out, which should be confirmed with a mortgage company or attorney, and a portion of your rent every month is set aside in reserve to help you save as a down payment. This amount is anywhere between $100 and $500 on the average. The owner is guaranteed rent for 3 to 5 years which is enough time to get your credit back in shape so you can qualify for a regular loan.

At the end of the three to five years you then revisit the agreement. You either purchase the home or you are able to walk away. The downside is that the owner gets to keep the reserve amount unless it is specifically agreed upon that the additional amount is returned to you. It is rare that you will see the additional amount.

2. Owner Carry Options

The owner carry option is another way that you can get a home with no credit check. This option can happen when an owner owns the home outright. It is actually a very simple process. What happens here is the owner becomes the bank. You will make a large down payment to the owner and then they will finance the rest. This option comes with an interest rate that is a bit higher than the current interest rate. They owner carry can work much like a rent or lease to own where the owner will give the buyer a certain number of years to qualify for a loan or they may carry the loan indefinitely.

3. No Credit Check Home Loan

Finally, there is the no credit check loan. This loan is a secured loan. The collateral that an individual puts up is the home itself. Basically the bank will keep the papers on the home until the loan is paid back. With this option you will get current interest rates and your payments will be much smaller than with the other two options. These options are available through a few lending institutions and more frequently by online institutions.