I would hate to see anyone discouraged from trying to get a loan on an affordable home for their family.  If you find a good home for a good price (which is doable in the current market), please don't be discouraged from trying to get a loan.  I figure if we were able to do it since my husband had not had the new job long, others can also as long as they have employment.  I'm not sure if our loan was a personal loan or mortgage but it worked out well for us.  I hope others are able to get the same kind of affordable housing.

I wouldn't have believed it was possible, until we did it, last year! After my husband's 2 heart attacks and my serious injuries from an accident kept us both out of work for several months, our formerly perfect credit rating was ruined. When we had to move, because we could no longer afford our over-priced middle-class house, I panicked.

When my husband told me about an owner-financed, very low down, no credit check house advertised on Craigslist for $25,000, I thought it had to be either a scam, or something completely uninhabitable in a horrible crime-ridden area. The house was 200 miles away, and I told my husband that the drive would be a waste of time. But he insisted he was going to see it, with or without me, because he had prayed and felt led by the Lord to check it out, so I tagged along... and, WOW!

The little town of about 600 is a bit off the beaten path, but it is peaceful, charming, very low-crime, and the people are the friendliest I've ever known. Our immediate next door neighbors are now our best friends. The town is located just 25 miles from a small city with all the amenities, including a mall, grocery and drugstores, restaurants, a hospital, and a super Walmart. We are also located about 135 miles from a major city.

The house itself is small, only 2 bedrooms and one bath, but it is big enough for the 2 of us. Yes, the house needed some work, but most of that was just easy and inexpensive cosmetic touches, such as replacing some missing trim, and new interior paint. Also, the former owners had covered the battered old hardwood floors with plywood and press and stick tiles, which isn't at all attractive. We plan to uncover and either restore, or replace, the hardwood floors in the near future. BUT, other than that, and a plumbing problem that we were able to repair with help from our wonderful neighbors, the house is very good and solid and sound, built far stronger than the new houses of today. Our new home sweet home is a charming 1929 Prairie-Style Craftsman with new stucco on the outside, all new double-paned replacement windows, and a brand new central gas heating system ~ which was all put in by the former owners! There is a huge old Chinese Elm in the large fenced in back yard, a row of lovely mature shade trees along the sidewalk, and a small church directly across the street that we now attend. Heavenly! Best of all, at this low price, we are able to pay enough so that we will have the house 100% paid for, in less than 5 years!

I was really worried that it might be a scam, but we had the papers drawn up at a reputable title company that has been in business for about 60 years, and they handle our monthly payments to the seller, so we feel quite safe. I would have preferred to go through a Realtor, for that added bit of security, and would have been willing to pay a little more for the house in order to do so... but still it has worked out beautifully. Losing our over-priced house that we would never have lived long enough to pay off, was the best thing that could have happened!

Yes, I know from first hand experience that homes can be purchased for under $30,000.  But, there's a few obstacles too.

One is, many are not able to have VA or FHA loans put on them. Many of the homes are in disrepair, listed in as is condition and may cost as much or more as the listing price to repair or upgrade. Check them out structurally as well as possible before purchase. 

Also, finding them can be a real challenge.  Do not rely on one thing or the other in particular to locate them.  For example: We went though numerous agents.  Never really found one who could stick to the guidelines or really listen.  Basically, we went though our motions and they went though theirs with us guiding them.

Going on line and going through listings can help.  But, like most things now days, it's not a cure all by any means.  Many homes are not listed correctly either by description or photo.  Street names, locations, measurements and other things can be way off or misleading.

Best bet we found was to explore all avenues and options on the same piece of property once you find one that's interesting to you in tour desired area.  Also remember, there's always another one around the corner.  So, don't get conned into thinking this or that is the only one and don't be too rushed by it either.  Stay away from bidding wars, no one really wins and they defeat the purpose.

Remember:  To stick to your guns and take your time within reason to make good choices.  Don't jump or give up ship on your ideals.  No building is really a home until you make it one.  Good realtors can be difficult to find.  They may work for you, but they also work for themselves too.  If their priorities aren't yours, locate another.  Same thing applies to loan companies.  Worst case scenario, be ready to walk away from either if a deal does not fit what you need or want.