To buy a house without qualifying for a mortgage, pay cash, advises Marcie Geffner for Bankrate. However, less than 5 percent of homebuyers bought homes with cash in 2014. Another option if you do not qualify for a mortgage is to obtain a co-signer, recommends K.C. Hernandez for SFGate.
Homebuyers who purchased homes with cash did so by building the home themselves with materials purchased over time, saving the money or buying distressed properties at lower cost and making the repairs themselves, according to Geffner. These options are not viable for many homebuyers. Some financial planners advise homebuyers to build and maintain good credit through prudent use of credit rather than attempting to live completely debt-free.