On this page you will find answers to the most frequently asked questions about Owner Financing.
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what is owner financing?
We finance the house to the buyer. No need to go to the banks, no need to worry about credit. All you need is a substantial down payment and be able to provide proof of income.
is owner financing the same as rent to own?
No. With owner financing we are financing the house to you (as if we are the bank). With rent to own, you are renting the house from us while you are fixing your credit to be able to qualify for a mortgage. Owner financing buyers usually have a much larger down payment than those in our Rent to Own program.
How long DO I HAVE TO PAY OFF THE HOUSE?
Each house is different, usually between 10 - 30 years.
is there a penalty for paying the house off early?
No. You can pay the house off at anytime.
what is included in my monthly payment?
Principal, interest, yearly property taxes and property insurance are included in your monthly payment. Please know that as with all mortgages, the first years of payment usually don't apply much to principal.
Do i have to have good credit?
No, we are not concerned with your credit.
Is my downpayment refundable if I choose walk away from the house?
No, neither your down payment nor money paid towards the principal is refundable.
DO I get an inspection period?
You are welcome to do any and all inspections you want BEFORE we sign a contract.
What do I need to pay to move into aN OWNER FINANCED HOUSE?
To move in you will need to pay the downpayment, plus the closing fees to the lawyer that will handle all the paperwork.
How fast can I move in to aN OWNER FINANCED HOUSE?
You can move in to one of our houses within 10-14 days of signing a contract.