It can feel almost impossible to buy a home with no credit, but luckily this isn't the case. Even if you've had problems getting a traditional home loan in the past, the following tips and tricks may help you get the loan you need now:

Make Your Payments on Time

Some of the payments you make on a regular basis for things like rent may be considered by lenders when you apply for a home loan, so it's important to make sure that you're paying all of your bills on time whenever possible. Keep records of your payments and any discounts or rewards you receive for making payments on time. If you can find an open-minded lender, they may consider your on-time payments as credit and extend you at least a partial loan.

You can also contact the companies you make payments to and request statements for at least the last year so they can be presented to your lender. Consider requesting statements from your power company, the lender you're buying your vehicle from. your cell phone carrier, and your doctor.

Some companies may even be willing to report the payments you make to the credit reporting agencies so you can build some credit that can be considered when applying for a home loan.

Buy a Piece of Land

While you may not be able to afford purchasing a home with cash, buying a piece of land might be feasible for you. If you can get your hands on a piece of land, you can use the land as collateral to get a loan and build your own home from scratch. Or you can use the land as collateral to get a loan to buy a home elsewhere. You can even fix the property up and sell it for a nice profits so you have the money you need to make a large down payment so you can qualify for a loan. The bottom line is that a piece of land can be used in a variety of ways to make your dream of owning a home come true.

Work With a Seller Direct

An excellent way to improve your chances of qualifying for a home loan with no credit is to work with a seller direct. While not common, you may find a person who is willing to finance their home personally, leaving banks out of the equation together. More common though, is the opportunity to work with companies that buy homes themselves and finance them to people who can't qualify for a traditional loan for some reason.

These companies offer customizeable loan options to meet the unqiue situations and needs of their clients. Because they own the homes they sell outright, they don't have to get permission from a bank to sell you a home on credit. As long as you can come up with a down payment and you're willing to commit to the contract you sign, you should find it easy and convenient to buy your home directly from the person or company who owns it.

To learn more about your options, contact services such as SWE Homes.