Getting a loan to pay for your new home may be easy with a great credit score. But, what if yours is not that appealing?

Well, you can still buy that home despite having a not-so-appealing credit score. Realty Times listed few options that you can consider taking when you plan of buying a home, yet your credit score does not exceed or even meet the standard. 

"New mortgages for purchasing homes are churning out at a fast clip, with the borrowers getting those loans having some of the highest credit scores ever," said CNBC. 

According to Geoff Williams on US News, "In a perfect world, you'd have a robust credit score and a 20 percent down payment in hand, with mortgage lenders falling all over themselves to get your attention. But what if your world is a little dinged? What if your credit score is shabby, your bank manager cringes when he sees you and debt collectors are the ones vying for your attention?"

The following are two options that you can take when buying a home.

1. FHA (Federal Housing Administration) loans

The Federal Housing Administration loans are one of the types of loans that has looser requirements such as lower down payments of just 3.5 percent and lower credit scores. 
"These are loans offered through lenders approved by the FHA, a government agency within the U.S. Department of Housing and Urban Development, or HUD. You can likely get approved for an FHA loan with a credit score of as low as 580, provided you have enough money saved for a 3.5 percent down payment." Those with credit scores that are even lower than 580 still might be in the running for an FHA loan," said US News.

2. Opt for  'Rent-to-own'

Rent-to-own options may actually help you get a home for yourself and your family. This will also keep you away from getting a mortgage.

According to Realtor.com, "A rent-to-own deal offers prospective buyers an opportunity to settle into a home they want to purchase while they continue to save for a down payment, improve their credit score, or wait for a negative factor on their credit report - such as a foreclosure or a collection - to fade into the past." 

Buying a home and becoming the rightful owner is one of the dreams of many people in the US. If you are not in the best condition to own a home, you can always look for alternative ways rather than taking the hard conventional way. 

Are you planning of buying a home? Will your credit score be enough to give you the loan to finance the purchase?