this post was submitted on 11 Jun 2026
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Actually Infuriating
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youre right but its just not feasible for many people. i wish i knew of a way to help others get out of the rental cycle
Private mortgages are one way. Instead of borrowing from the bank, you "borrow" from the seller. They will typically charge a significantly higher rate than a bank, but they don't have the same requirements as a bank.
Land contracts are a sort of "rent to own" agreement with a landlord/seller. Basically, in lieu of a down payment, you rent the property for three years - at a fixed monthly payment- and the rental agreement then converts to a private mortgage with the same payment.
Both are more exploitative than a typical, commercial mortgage, but much less so than any sort of rental agreement. With either option, as soon as you qualify for a cheaper, commercial loan, you can retire the private mortgage.
Do you travel in your car, too?