More than one way to become a homeowner

Most people think that the only way to become a homeowner is to go to the local mortgage lender and get a loan to buy your dream homes. There are other ways to becoming a homeowner. You can buy a home with seller financing. This is available when a person owns a home free and clear and wants the income from the payments of the seller financed home. You can also get seller financing even if the current homeowner has a loan on the home. It is called a wrap around mortgage or subject to financing. The current person keeps the current loan in place and he sells the house by putting writing a new mortgage with the prospective buyer. This is usually done for a short term like three to five years. After that time period ,it is up to the new homeowner to refinance and pay off the old mortgage loan. You can also become a rent to own buyer and have some of the rent payment be applied to the down payment. You then dont have to save for the down payment and just have to get a loan when you finalize the purchase of the house. I will be giving tips in the future on how to qualify for home loans and how to find seller financed properties