FAQs

Owner financing involves the seller assuming the role of the lender, providing capital and financing directly to the buyer for property purchase. The terms, including interest rate, down payment, and more, are agreed upon and documented in a promissory note and a deed of trust, ensuring a clear path for repayment.

Simplified Application Process: Owner financing extends its reach to individuals who might not meet conventional credit standards, allowing approval for those with varied financial profiles, including higher debt-to-income ratios or limited work histories.
Faster Closings: While traditional loans from banks or credit unions often take over a month to finalize, owner financing transactions can often expedite your path to homeownership.
Lower Fees Meaning More Savings: Unlike conventional loans that often incur additional fees, such as bank charges and appraisal costs, owner financing deals generally feature lower closing costs, contributing to a more affordable home purchasing process.

Our owner financing program is designed for families seeking to realize their dream of homeownership. Once you’ve found a home within our program, we’ll collaborate on structuring a suitable financing arrangement. You’ll make regular monthly payments that encompass the principal amount, interest, taxes, insurance, and servicing costs. We’re here to guide you through every step, from initial application to moving into your new home.

Please see our informational page on HOW IT WORKS.

Owner financing stands out by offering an alternative to conventional mortgage loans. Unlike banks that often impose strict eligibility criteria, we take a personalized approach to every client’s situation. We recognize the uniqueness of each individual and family, working diligently to understand your circumstances and tailor a solution that best fits your needs. This often means more flexible qualification criteria, reduced paperwork, and a streamlined approval process.

Due to our in-house financing program, we often have lower barriers to approval. This means our clients have fewer hurdles for obtaining approval. If you’re without any tax liens, meet our fundamental credit prerequisites, and possess adequate income and down payment, we can typically facilitate the loan process.

The minimum down payment is 10%, but some clients contribute up to 50% down payment. Since the availability of homes is limited, aiming for a larger down payment can significantly strengthen your application. This approach enhances your chances of securing a property within our program and solidifies your commitment to the homeownership process.

Our loans feature a 30-year term and come without any prepayment penalties.

While the interest rates and insurance premiums may vary depending on individual circumstances, our objective is to establish affordable mortgages that aim to closely align monthly payments for principal and interest with local rental costs in the neighborhood. We will be able to provide you with a payment estimate, however the exact amount will be determined after submitting the required documents to the Registered Mortgage Loan Originator (RMLO).

After signing the agreement to purchase the house, we will connect you with our RMLO to finish the qualification.  In order to qualify you will need to provide the following:
*Last 2 Years Of W2s or 1099s
*Last 2 Years Of Tax Returns
*Last 2 Months Of Bank Statements
*Last 2 Months Of Paystubs
*Copy of Drivers License
*Copy of SS Card or ITIN

Interest rates for owner financing are individually tailored to your unique situation. Factors such as your credit history, financial stability, and prevailing market conditions contribute to the rate determination. Our goal is to ensure fairness and affordability while maintaining the sustainability of our financing model.

We understand that managing both closing costs and a substantial down payment can sometimes be challenging. While each situation is unique and dependent on various factors, we do offer the possibility of including these costs within the loan structure. The feasibility of this arrangement often relates to the size of the down payment you’re able to provide upfront. A larger down payment might allow us to accommodate closing costs in the loan amount, thereby simplifying the initial financial demands of homeownership.

Yes, the property will be owned and held under the borrower’s name. All transactions are closed with an attorney or title company, with all pertinent loan documents recorded at the county clerk’s office. Our loans are secured by a Promissory Note and Deed of Trust, solidifying the arrangement and safeguarding the interests of all parties involved.

Absolutely. We encourage early loan repayment and do not impose prepayment penalties. Clearing your loan ahead of schedule can lead to interest savings and full ownership of your home without any additional costs.

We understand that life can present unexpected challenges. If you encounter financial difficulties, please reach out to us as soon as possible. We’re committed to finding solutions that support you while keeping the lines of communication open. We may explore options like temporary payment adjustments or refinancing to help you stay on track.

Certainly. Once the purchase is complete, you have the freedom to make improvements and personalize the home to your preferences. Since you’re the owner, any enhancements you make will contribute to increasing the value of your property.

Yes, homeowner’s insurance is a requirement to protect both you and our investment. This insurance safeguards against unforeseen events, such as damage due to natural disasters or accidents. We can assist you in understanding the insurance options available and guide you through the process.

If you choose to sell the property before the loan is paid off, the outstanding balance of the loan will need to be settled from the proceeds of the sale. Any remaining funds from the sale will be yours to keep. We’re here to help facilitate a smooth transition and provide guidance during the sale process.

Transparency is important to us. We strive to keep the financing process straightforward. While there are costs associated with the loan, such as interest and insurance, we’ll ensure you have a clear understanding of all fees upfront. There are no hidden charges – we believe in open communication throughout your homeownership journey.

Please fill out our Pre-Qualification Application HERE.  One of our home buying specialists will be in touch shortly to discuss next steps.