You have low income but want to see if you can get your hands on a house. The best way to do that is to join a rent to own program for low income rent to own homes. Low income home buyers usually deal with not having enough for a down payment on a house.
When you join the rent to own program you have access to rent to own listings or the ability to turn a home for sale by owner into a lease to own option. Many rent to own homes for low income come from for sale by owner.
Your credit score is something that can help you get into a rent to own home. Having a good credit score will let you get the home loan you need from a lender. Having poor credit can put a wrench in your house buying plans but if you are serious about buying a home fixing your credit needs to happen.
Homes for sale are at a low and your next option is to do rent to own homes but you need to see what kind of home you can get for the money you have. Another option is to get into a rent to own agreement and start saving up the money for a good down payment.
The benefit to rent to own is that the bank isn’t involved. Mostly the lease to own agreement is between the renter and the home owner. Renting a home can put you in a good position because it can get you into a house and the rent is agreed upon before you sign the lease agreement.
Once the lease agreement is written up you will want a real estate expert to look over it so that you know what you’re signing. Many real estate agents have a lease agreement for renters. Or when you join a rent to own program they usually have an agreement in there program you can have.