SEEKING: $25k for 1st TD - NEGOTIABLE owner-occupied house in CA

[Stephen Phillips]

Hi,

I am new at real estate and new to this forum and computers in general, so please excuse my many mistakes I'm sure to make initially. If this is not the correct place for this discussion, moderator, please post a link to the correct location and I will move this discussion to there.

My name is Steve and after a lifetime of renting, I finally have an opportunity to buy my first home.  I am not a real estate investor.  This will be my first, and probably last home I will ever buy.

I'm looking for a long-term, easy payment finance (no balloon payment). The problem is I have a zero credit with all three credit reporting agencies. I have always paid cash for everything my entire life, so I have never borrowed or ever been late with any payment. Unfortunately that makes my credit score zero, which means no conventional lender is willing to touch me. Your help with this transaction and financing source suggestions will be greatly appreciated. This will be my home, not an investment rental property. And it is located in a subdivision within the city limits of Alturas, California.  Below I included all the information I believe needed but let me know what else you need to know.  I'm not a real estate investor, so I don't really know, but is there anyone who can do this type of financing.  The local realtors here can't help me.

If I can somehow tie up this property in escrow before March, I can buy this house for a total of $35k. After March, I was told it will be put on the market at $49k. I only have $20k cash I can put toward this house, and actually I'd prefer to put only $10k as it will need some repairs and upgrades. So where can I find lenders who might want a secured by first position mortgage note for $25k on my new owner-occupied house? The 25k plus my 10k will purchase the house in total.

Thank you for your help, everyone.

Steve