Amy Arey

 

New Lending guidelines making it impossible to obtain financing?  I can help!

I have a list of numerous owner-finance properties throughout the metroplex.

Regardless of credit, if you have 5-20% down (depending upon seller and property),

You CAN own a home.

 

Most people actually qualify for more than they think.

*Click Here to find out what you qualify for now*

 

What Exactly IS Owner-Finance?

 Owner financing has been around for as long as most of us have been alive and has been a technique that many homeowners, real estate brokers, investors, and buyers have been using in order to buy and sell properties in a much simpler fashion. For sellers it moves property more quickly than any other methods, for investors it is a better way to cash flow than a lease because there are essentially no landlord responsibilities, and for real estate professionals it is a way to earn commissions on those more difficult and unique clients. For buyers it can be the perfect solution as the requirements to qualify are typically much lower, social status can be overlooked, and it is very inexpensive due to the elimination of the points and fees that are charged by banks and mortgage companies.

Owner financing is sometimes referred to as “seller financing” and is a type of transaction where the seller acts as the bank or mortgage lender and finances the property to the borrower under a specific set of conditions. In most cases the seller will transfer the deed to the property to the buyer and in return receives a mortgage or note and deed of trust which places a lien on the property and obligates the buyer to make regular payments. There are both benefits and risks associated with these types of transactions and it is important that both buyer and seller seek professional help to ensure that it is handled correctly.

Typically, these notes are negotiated at a higher interest rate than banks charge and a seller can therefore receive top dollar if or when he decides to sell the mortgage to an investor. Buyers normally have no problem paying a little more interest over the life of the loan due to the numerous closing savings and other obvious benefits. In order to minimize risk, sellers will almost always require a respectable down payment. That way the buyer has something to lose if they ever think about simply walking away.

Many sellers also employ the use of a professional loan servicing company to save both time and money, and to further protect themselves in these transactions.

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