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According to this report from Zillow’s Mortgage Marketplace — SEATTLE, Sept. 27 :

Nearly one-third of Americans are unlikely to qualify for a mortgage because their credit scores are too low, making homeownership out of reach for many. This is according to an analysis of more than 25,000 loan quotes and purchase requests on Zillow Mortgage Marketplace during the first half of September.

Borrowers with credit scores under 620 who requested purchase loan quotes for 30-year fixed, conventional loans were unlikely to receive even one loan quote on Zillow Mortgage Marketplace, even if they offered a relatively high down payment of 15 to 25 percent. Nearly one-third of Americans, or 29.3 percent, has a credit score this low, according to data provided by

Here at, we take issue with this report and want to set the record straight – Homeownership is NOT out of reach for these Americans! Our Seller Financing Program provides immediate home ownership to homebuyers regardless of low credit scores. Furthermore, that same Seller Financing Program features properties with no down payment solving yet another problem that vexes even home buyers with good credit scores.

The reason this is possible is that the sellers of homes in our Seller Financing Program are willing to wait until later to get paid. The amount of time they are willing to wait is called the Length of Term and it varies from property to property – anywhere from 2 to 30 years, but the most common are 5, 7 and 10 year terms. This is great news for homebuyers with low  credit scores because it provides them plenty of time improve their credit before needing to obtain a mortgage. During the term, buyers will make a monthly payment similar to what they would make if renting. However, the vast majority of this monthly payment is tax deductible according to IRS Publication 537 – Installment Sales.

Category : Buyers / seller financing

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