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Owner Finance is specifically designed for those who have proof that they have the ability to pay but for some reason large banks will not help with a mortgage. This could be due to a variety of different reasons. Owner finance works very similar to a regular mortgage where you are required to have a down payment and then make principal and interest payments over a specified period of time. There are some additional requirements specific to this type of loan that we will discuss with you.
Requirements to begin:
- Photo Identification. This can be a Driver’s License, Identification Card, Matrícula Consula Card or Passport. Must be original, not expired or photo copy.
- Social Security Card or Individual Tax Identification Number (ITIN) Letter, which must be original and not photo copy.
- Most Recent Two years complete tax returns, all pages.
- Most Recent Six pay stubs or if you receive cash income, 6 month’s bank statements showing all deposits.
- Additional requirements may be required for complete approval.
You begin by calling and scheduling an appointment to review your requirements. On the call we will answer any questions you may have about our owner financing program. If you have submitted your information into the form on our Get Started page, you will receive email notification whenever we have a new house for sale. If you see a house you like and have all of your requirements in order, call our office at (281) 809-0994 and we can schedule a time for you to go and see the house.
We have homes all over the Houston Metroplex in affordable areas including Harris County, Galveston County, Brazoria County, Fort Bend County and Montgomery County. The easiest way to see what is available is to view our Property Map or Homes for Sale page. Our inventory is always changing so make sure you fill out the form on our Get Started page so that you will receive email alerts whenever we have a new house available.
No, you do not need to be a U.S. Citizen to purchase a home. You do need to prove your ability to pay and meet all other requirements of the loan.
When you schedule your appointment all the details are discussed with you at length to make sure you understand all of the features and benefits of owner financing.
We have all types of terms available. The maximum term being thirty years. Sinc we do not have an early payment penalty, we encourage you to pay-off your loan early, which can save you thousands of dollars over the long-term.
Once you have fully considered a specific home and are comfortable proceeding then you may put a deposit on the home. The deposit is known as “Earnest” and is fully refundable upon a denied loan. We DO NOT want to receive any funds in earnest if you are not fully committed and ready to proceed.
It really depends on the house but 10% to 30% of the purchase price is common. When you schedule your appointment, all the details are discussed at length with you including the down payment requirements for the property you are interested in.
No, we do not sell properties "rent-to-own".
No, unfortunately we can only owner finance properties that we have in our own inventory. If you find a house you want to buy that we do not own we cannot help you purchase the property.
"You were very professional and we enjoyed working with you. If someone would like to talk to us about our experience, I will be happy to speak with them."Kathryn V. - Houston, Tx