In today’s market, an owner finance transaction is an excellent alternative to purchase or sell a home.
If you are in a position where you are unable to sell or buy a home, for whatever reason, you may wish to consider owner financing as an option.
Listed below are some of the benefits of buying a home using owner financing:
- No Specific Credit Requirements
- Minimal Processing
- Quick Approval
- Quick Closing
- Low Closing Costs
- More Flexibility
- Homeowner Tax Deductions
- Improves Your Credit (*if payments are being reported to the credit bureaus)
Owner financing is typically NOT based on credit score or credit history, this allows anyone with a will to own a home, an opportunity for home ownership. Every seller offering owner financing is different, for the most part they are offering financing for those that cannot obtain a mortgage today.