Owner Financing in Texas – The Oak Leaf Company

Owner Financing in Texas

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Owner Financing in Texas

Owner financing in Texas is an alternative way to finance the purchase of real estate as an alternative to traditional bank financing. In owner financing, the seller loans the money to the buyer and the buyer makes monthly payments to the seller, instead of a bank. These can be complicated and tricky. You can choose from a number of different owner financing options. Here are the most common arrangements.
Owner Financing in Texas

Owner Financing Options

Disputes over owner financing agreements often involve complex, highly technical real estate laws and regulations. If you are involved in an owner financing dispute in Texas, you need a knowledgeable legal representative on your side.

Before you agree to owner financing, consult a realtor to protect yourself and your interests in the property. At The Oak Leaf Company, we are prepared to analyze your case and take immediate action to protect your rights and interests. To set up a free, no commitment review of your case, please give us a call today.

Owner Financing in Texas near me

Owner Financing in Texas near me

Here at The Oak Leaf Company, we 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. Learn about Owner Finance Contract Texas.

There are many ways you can find an owner financed home.

Everything works just like it does when you buy with a conventional mortgage. It is different from typical owner financing arrangements where balloon payments, pre-payment penalties and other similar restrictions are standard practice.

Besides you won’t be able to buy any home you want because most sellers like to get all the cash up front on the closing day. Owner/seller financing is a great option for buying a home in Houston, particularly if you are struggling to get a conventional mortgage.

Owner Financing in Houston Texas

Owner financing has become a popular financing option for buying a home in Houston, Texas as the banks or conventional lenders have become very strict with their mortgage underwriting standards.

In order to meet these underwriting standards, you should have a stellar credit score and favorable financial history and make a fixed monthly income. The lenders take all these and many other factors into consideration when evaluating your mortgage application. The tightening standards have resulted in a lot of potential home buyers struggling to obtain a mortgage. Many of these buyers are disciplined with money, but pay a heavy price for small financial missteps from the past – for example missed credit card payments.

Owner Financing in Houston Texas

On the contrary, you don’t necessarily need a high credit score to buy a home in an owner financing arrangement. In fact, you can buy a home with no credit check or income verification. Here at The Oak Leaf Company, we will explain in detail how owner financing works and how it’s a great alternative financing option for credit challenged home buyers. We will demonstrate how owner financing is a good option for you.

We will help you find your dream home and help you learn how you can buy that home with owner financing without credit check or income verification.

Owner Financed Homes Good Or Bad

Owner financing means that the property’s owner/seller participates in financing the buyer’s purchase of the property either partially or the entire loan itself. The owner acts as the bank and sets up interest rates, payment plans, and payoff amounts.

This type of financing becomes more prevalent when sales in a particular area slow down and sellers are motivated enough to try just about every avenue. If the seller doesn’t need the full cash up front, let’s say, to buy another house, owner financing might be a great option for buyers. It could be a good incentive as owner financing might be a little more lenient than bank financing but the owner still has to take the risk just like a typical lender.

It’s important to have a real estate attorney or a realtor to draw up the proper paperwork. This is one of the biggest issues that many owner financing situations may have. It’s important to draw up all of the paperwork legally and have it notarized and signed. This protects both the buyer and the seller.

Owner financing can be a great option but there are a lot of caveats and things to consider before agreeing to owner financing. It’s not necessarily a bad idea and for certain situations, it can be a great option for both buyer and seller. But, before agreeing to any owner financing it’s important to discuss the terms and options with a real estate attorney or real estate company.

Call us today and we will help you find your dream house in Houston, Texas.

Owner Financed Homes For Sale Near Me

If you are looking for an “owner finance homes for sale near me” in the Houston area but need special financing options, The Oak Leaf Company can help you get into your dream home in no time at all. When buying home, seriously consider using the owner as a lender. Under the current financial crisis, most banks and other traditional lending institutions are not loaning out money for raw land purchases. Those that do lend have strict requirements which can be costly such as a high down payment, points, origination fees, appraisal fees, title insurance fees etc.

Most owner financing deals are simple and straightforward. Generally, the only costs are legal fees needed to draft the appropriate documents. An initial down payment at closing is usually the only requirement. Using the owner as a lender is also a good way to own a house without paying the full price up front. This allows the new owner to use his or her capital to make improvements which generally adds value to home.

Owner Financed Homes For Sale Near Me

Whether you have bad credit or no credit at all, The Oak Leaf Company has what it takes to get everyday homes for everyday people. We make buying a house easy, with a straight forward approach that gets you just what you need with easy owner financing and no credit needed.

For more information about owner financing of homes in the Houston, Texas area, contact The Oak Leaf Company today by phone and get started on buying your dream home today!

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