Not everyone will be able to pull this off correctly, but there really are ways to buy your own home without having to take out large loans in the process. These days so many people do not understand how to buy a house debt free, or even that such a thing is possible.

 So because of this the majority of Americans end up feeling forced to obtain a large loan to cover the value of the property they are looking to acquire. Also consumers who take these loans are going to be held responsible to pay them back for the next 15, 30, or even 40 years. In some rare cases borrowers end up obtaining a 50 year mortgage loan!

For those out there that are looking to own a home free of debt, there are two general things you can do to make it happen. First, there is rent to own which is a decent arrangement, but this is much like a loan even though you it will not be placed on your credit report. There is also the concept of buying government auction homes at a hugely reduced price and if you do this, you will need to be flexible about where you are willing to live and also the amount of repairs that may be needed.

These homes are previously owned homes that may be in terrible condition, depending on the previous owner and there situation. There are many auctioned off homes that have been destroyed by the previous owner over their frustrations with the bank and problems they have faced. So be very careful when choosing a home that has been auctioned off, because sometimes the costs of repairs will not be worth it in the long run. 

If you save your money and invest wisely you do not need a mortgage or a huge loan to own your own house.

Moe Bedard
My name is Maurice "Moe" Bedard. I am the founder of America's #1 Mortgage Forum, My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications.