Owner Financing

Owner financing is one of the best ways to sell your home faster and for top dollar.

To understand owner financing, it’s easiest to compare it to renting without many of the downsides.   The buyers will make their mortgage payment to the seller and the deed will be transferred to the buyer giving them full home ownership and the pride that comes with it.

Owner financing eliminates many of the financing fees you encounter in a conventional loan which can result in one of two things:  It can provide the seller with a larger down payment or save the buyer from having to come up with so much money out of pocket if they are working on a tight budget.

The latest statistics say that over 80% of homeowners cannot get a loan in today’s market which means they are looking for sellers who are willing to consider owner financing.  Many of these homeowners are our local self employed business owners with good credit and good income, who can not come up with all the banks “required documentation” to get a loan and are therefore in need of some other type of creative financing opportunity.

The main downside to owner financing is that the buyer could eventually stop making payments.  This would mean that the seller would foreclose or request a deed-in-lieu and the home would be the sellers responsibility again.

Many people don’t realize, but any home can be owner financed even if you have an underlying mortgage.  We go over many (not all) of the varieties of owner financing right here on this website.  We may be interested in buying your home using this method or perhaps helping you broker the deal to another buyer.