| Basics
Of Owner Financing
What does the term Non-Qualifying
financing mean?
It means No Bank Qualifying! None. We look at your
ability to make the payments on time. Period!
Who is Non-Qualifying Financing Program For?
This program is for Buyers who want to own a home now, but
can not qualify for conventional financing through a
mortgage company or a bank.
What are the reasons I may not qualify for financing
through a mortgage company?
There are many: bad credit, no credit, too much debt, not
enough income, self-employed, late payments on credit
accounts, not long enough on the job, etc.
We understand that people go through some tough times.
We can help ease that burden.
How Quickly can I get approved for and move into the
house ?
Typically within 1-2 business days. The quicker you
can provide us with the information we need, the quicker
we will make this happen.
How Does Owner Financing Work?
On all homes we have for sale we offer Owner Financing,
which usually requires no or very little qualifying. In
this case we are the bank, and you are making payments
directly to us.
What is the difference between Non-Qualifying financing
and Lease/Purchase plan?
With Lease/Purchase you are still a Tenant who has the
Option, or right to Buy a house within a specific period
of time, typically during your Lease term. You have the
benefits of possession and a guaranteed pre-agreed upon
price of the home you will eventually own. But you don’t
have financial benefits, such as mortgage loan interest
deduction , property tax deduction, mortgage balance
paydown, etc.
With Non-Qualifying financing you actually own a house and
are entitled to all financial benefits of ownership, which
may easily amount to $3,000-$6,000 per year in cash back
from IRS.
Is Non-Qualifying Owner Financing the same as
Non-Qualifying Assumable?
No, it's not the same. We only specialize in
Non-Qualifying Owner Financing.
How Long Is The Owner Financing For?
While traditional mortgage lenders are in the business of
providing permanent long term home loans to buyers, we are
in the business of buying and selling homes. Therefore, we
only provide a short-term financing to facilitate the
sale.
Typically we finance for 2-3 years. At the end of that
term you will have to obtain a replacement loan from a
traditional lender and pay us the remainder of the
financed amount.
What Closing Costs, Fees and Points Shall I Expect To
Pay?
You will need to pay for the 1st year insurance premium to
have the home insured against damages. In most cases we
don't charge any closing costs or fees on 1 year
agreements.
How Do I Apply?
Just follow our "5
Magic Steps To Home Ownership"
plan by clicking HERE
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