Low interest rates make a mortgage an attractive means to purchase a home, but if you can't qualify for one don't worry, you have options.

"There are different options people can use outside of a traditional mortgage," says Mike Schenk, senior economist of the Credit Union National Association. From borrowing from a family member to considering a rent-to-own agreement, potential buyers don't have to rely solely on a mortgage loan. But Schenk warns to do your homework before making any decisions. "In some cases ... the transactions can be complicated and confusing."