Do you want to own your own home? This is a dream that many people have, but some people think that buying a home is complicated. There are others who do not have established credit or who have bad credit. The following are a few ways you could be a homeowner even if your finances or credit are less than perfect. 

Credit Improvement

If you do not have established credit, you need to focus on that. You can likely start by getting a few credit cards and using them responsibly as well as by paying your bills on time. Perhaps you have credit that is less than stellar; you can work toward rebuilding your credit. You may be able to get some of the negative marks removed. Establish a pattern of paying all of your bills on time going forward. This can help your score gradually go up. You can also save money that can be used toward the down payment on your home since you will not be incurring late fees.

Lease-to-Own Agreement

There are some properties on the market for sale that are lease to own. You may still have to undergo a credit check, but it may not be scrutinized as closely for this kind of arrangement. A lease-to-own arrangement generally involves you paying to lease a home. The contract you sign will have a clause in it that gives you the option to buy the home when a specified amount of time has passed. This type of arrangement is attractive to some home shoppers because they can get into a home sooner than they would if they had to wait for things such as saving for high down payments or credit scores improving. During the time you are leasing, you can make efforts to raise your credit score if needed. This might qualify you for a loan when the terms of the arrangement reach the option-to-buy phase. 

Guarantors

Perhaps you are in a situation where you have a decent income but are not yet established. This is something that many recent college graduates face. You may be able to get someone who has established credit to help you get into your first home by acting as a guarantor. For example, your parents may own property that they are willing to list as a guarantee that you will pay your loan as needed. The guarantee information would remain on the loan until specific criteria are met. This usually involves paying a certain amount of the loan. When the obligation is met, you can file paperwork to remove your guarantor.  

Talk to a company such as Mark Fox Company to learn more about your options.