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HOW TO PURCHASE YOUR "DREAM HOME" WITH NO CREDIT CHECK
Part 4
TWO POWERFUL STRATEGIES THAT CAN GET YOUR APPLICATION APPROVED
Credit checks are requested by banks, lenders, and other creditors to see if there are
negative items in your file. The more negative items you have, the less your chances of credit
will be. As we have seen, creditors look for stability and reliability in an applicant. A steady
source of income will receive a high score, but even more important than an income amount is a
creditor's belief and perception that you are both willing and able to pay back a debt.
In other words, even if you fail to pass certain criteria or formulas, your application
can still be approved on another level that will get you the credit you want no matter what a
scoring system profile says.
Motivated sellers are the best kind to deal with, because they will want to help themselves
by helping you. Lack of money or credit shouldn't be your primary concern when purchasing a home.
Creative negotiating and positive thinking will get you what you want.
CREATE A DEAL THAT BENEFITS BOTH YOU AN THE SELLER
Creative negotiating can lead to financing arrangements that benefit both the buyer and
the seller. There must be a willingness, however, by both the buyer and seller to give and take,
before the most favorable environment for a creative financing situation can be created. For
example, if you want to purchase your dream home with nothing down, you might consider paying a
little more.
On the other hand, if you are investing money out or your pocket on a down payment, then the
sale price and terms should be favorable to you. A smart, yet flexible home buyer can often afford
to pay a premium price provided it's not too far out of line with the market value, and he can get
attractive terms and no down payment.
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