Houses Financed By Owner
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Houses Financed By Owner
In this economy, there’s lots of reasons why a person may not be able to get a mortgage to get a house. We understand! In Houston, Texas, we have homes available for folks who need an owner financed home.
If you’re looking for an owner financed or seller financed home in the Houston area, we’d like to hear from you. As real estate investors, our goal is to solve real estate problems that conventional real estate solutions aren’t solving. We periodically have houses available that we can make available owner finance. You just need to tell us a little about yourself and what kind of property you’re looking, and we’ll send you a list of available homes for you to look at!
Our goal is to find the perfect home with you. You’ll tour the home, review the costs, and decide if it’s right for you. If it is, we’ll finalize the deal, and you can move in. Otherwise, we’ll keep look for something that meets your need. We look forward to meeting you!
Houses Financed By Owner Near Me
The ability to buy a home in today’s housing market has gotten tougher. Strict loan requirements that are almost impossible to meet along with large down payments have made what should be a wonderful experience a challenging one.
If you enter into owner financing, you need to have a gameplay to get into a safer, cheaper, traditional mortgage within 3-5 years of starting the owner financing.
Some benefits of Houston Owner Financing:
1. Faster closing – no processing time for the home buying process
2. Cheaper closing – no bank fees or appraisal costs
3. Flexible down payment – no bank or government-required minimums.
4. Good option for buyers who are not able to secure a mortgage
This is why at The Oak Leaf Company, we offer owner financing and a layaway program. Our owner financing program offers tailored financing that gives us the flexibility to qualify you without requiring a credit score, and our financing program gives you the down payment flexibility that you need to get into the home that you want.
Houston Houses Financed By Owner
Approaching a bank for a mortgage loan to cover a down payment or the entire purchase price is an option often considered in the process of purchasing a home. However, sometimes you may not be eligible for a bank loan for various reasons, including a poor credit report because of default in payments, or lack of sufficient income to qualify for the required loan amount. For those in such situations, there is another option called owner financing or seller financing. Owner financing is where a person putting up his house for sale offers a part of or the entire purchase price to the purchaser as a loan in order to help the purchaser. This purchase money mortgage offered by a seller to the buyer is conducted with the intention of luring the buyer.
In our process of owner financing, the first step you need to do is to tell us what you are looking for. Once we have your information, we’ll send you homes that meet your criteria. We’ll also send you upcoming homes for you to look at as well. When you see a home you like and are ready to move forward, we’ll send you an application. At this time, you’ll know the Down payment required, the term of the financing, and the home’s monthly payment. Before move-in, you’ll be required to make your down payment. This entire process typically occurs with 7-12 days for most of our clients.
The primary benefit of an owner financed purchase is that you have the opportunity to purchase a home even if you are not eligible for or cannot afford a bank loan. This process helps you avoid cumbersome loan processes and close the deal in a few days’ time.
Let’s have a conversation so we can understand what you’re looking for.
Houses Financed By Owner Houston
Owner financing is a safe way to finance an investment property or even a residential home. That said, not all buyers and sellers are experienced in the process. Also, there are always risks inherent to an owner financing arrangement, even if both the buyer and the seller are acting in good faith.
As you consider both the benefits and drawbacks of owner financing, it’s up to you to determine whether you’re comfortable with the process and how to proceed. While you can find seller financing contracts and owner financing addendums online, this is one time where you don’t want to skimp. Whether you’re a buyer or a seller, take time to vet the other party to establish trust, and be sure to hire a real estate company like The Oak Leaf Company to help you find your dream house!
How To Find Owner Financed Homes
There are many ways you can find an owner financed home. You can hire a realtor, you can go through For Sale by Owner listings and talk to their owners, you can go through listings on free property listings websites online or tour neighborhoods where you are planning to buy homes and negotiate with sellers individually.
The Oak Leaf Company can help you learn how to buy any home with owner financing in Houston. We match you up with an investor who buys the home on your behalf and owner finances it to you. You are also assigned a realtor who helps you find your dream, negotiates on your behalf, prepares a contract and gets you through the closing process, at no additional cost to you.
Owner financing is a great option for buying a home in Houston, particularly if you are struggling to get a conventional mortgage. It is different from typical owner financing arrangements where balloon payments, pre-payment penalties and other similar restrictions are standard practice.