Unlike our Rent to Own program, our owner financing properties do not require you to fill out a credit application or background check application. All you need to do is have a substantial down payment and be able to show proof of income.
Owner financing is in-house financing. You will have a certain amount of years to pay the house off.
The down payment is applied to the final purchase price. For example:
Purchase price: $100,000
Balance owed: $75,000
Buyer will have a monthly payment which will include principal, interest, taxes and insurance. Buyer will be responsible for any repairs and maintenance to the property and can rehab the property however they want.
This process is all done through contracts and a lawyer.
Amounts required to move into one of our properties:
Substantial Down payment - amount varies per house
Lawyer fees* - around $2,000 for a $100,000 house.
*Lawyer fees include title report and lien search (to show clean title), escrow services and lawyer processing fees*
Owner financing Process
Buyer will sign a contract with us to purchase the house, we will verify income, the contract will be sent to the lawyer and a closing date will be set. Simple as that.
Buyer will then receive keys to their new home!
Questions? First make sure to check out our Owner Financing FAQ page. If your question isn't answered there, please Contact us.