Buying a Home with Bad Credit

Posted by on April 27, 2012

Dreams of buying a home can be seem quite bleak when you have bad credit. With banks turning you out and the daunting price increases in the real estate market, your days of renting may seem never-ending. Luckily there are options out there to help you. You can buy a home with bad credit.

Sandstone Management is a Canadian company dedicated to assisting those with bad credit in becoming home owners. The key to owning a home with bad credit is in the lease to own option.

Sandstone helps you find the right home in your price range. They make sure the investment is sound and that no surprise flaws are involved that many first time buyers make the mistake of overlooking. A small down payment amount is settled (usually 5%)and the price of the house is predetermined for the end of the lease period.  You then make reasonably priced monthly payments for the lease period. This typically lasts anywhere from 1 – 5 years depending on your financial situation.

During this lease period, a portion of your monthly payments goes toward building equity for your down payment when you take over the home. Mortgage professionals assist you in rebuilding your credit and help you achieve a more promising credit rating. At the end of the fixed leasing period, you apply for a mortgage with your gained equity and new credit rating.

Since the down payment and price of the home are predetermined, you take no major risks with your finances. Any variations in the market become your gain – so you can earn equity before you even purchase the home! Any work you have put into your home also works to your advantage. In a matter of a few years you can achieve your goal of home ownership.

With the help of Sandstone Management, you can take your bad credit and get your finances back on track. With patience and the assistance of professionals, you can build equity, repair your credit, and enter the world of home ownership. The only way to change your current situation is to take the steps needed to go where you want to. Stop paying rent to landlords with no gain. Call Sandstone Management  today and discuss the option of lease to own homes.

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