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Owner financing on Lake Conroe homes with easy qualifying!
Featured home offering seller financing!
With the lending solutions being as they are in todays market it's getting harder and harder to obtain traditional financing for a home these days. The lending instruments have become as volatile as the stock market, and so far have not shown any signs of changing in the near future. Through the "bailout" package, our government gave banks billions of tax payer dollars so they would in turn lend it to people to help stimulate the housing market; the only problem is the banks didn't lend much of it, but instead cleared their own balance sheets and tightened their lending standards even further. This has lead to a lot of people being unable to obtain traditional financing for a home purchase.
I have a few solutions left for folks who do not want to rent, or "lease to own" Lake Conroe or Montgomery homes, but rather own their own home along with the tax advantages that go with it.
These transactions are the same as any "normal" transaction; there's a purchase agreement, they close at a local title company with an escrow officer, all the proper documents are notarized, and the deed and note are recorded at the county for the new buyer. The only difference between these transactions and a traditional sales transaction is that the seller finances the sale instead of a bank. The potential buyer doesn't have to worry with the standard loan process; there's no tax returns, credit scores do not come into play, and there's little to no wait for an answer.
If you are self employed, have high debt ratios, new on the job, poor credit, past foreclosure, or other issues that are keeping you from obtaining traditional financing, this is a great avenue to explore.
I currently have commodity properties available with owner financing; these are not older homes in poor neighborhoods, rather they can range from brand new custom homes on golf courses, to nicer interior lot homes in great neighborhoods with exemplary schools! *If you would like, I may also be able to arrange for you to pick out your own home and obtain seller financing for you* (contact me for details).
Not all transactions are alike but the basic outline for the terms of these purchases are as follows. The only requirements for the seller granting the financing would be that the buyer(s) cannot have any Federal tax liens against them; other than that, no job history or past credit issues will matter or come into play.
Since the seller is carrying the note with no qualifying they will want 20 to 25% of the purchase price as a down payment as this is really their only security; the remainder of the "financed" portion would be at a rate anywhere from 7.5% to 8% amortized over 30 years to keep the payments manageable, though there would be a 3-4 year due clause or balloon payment if you will. Setting up an escrow account for taxes and insurance would also be required, very much like large banks require.
Please contact me for additional information about obtaining Lake Conroe or Montgomery area homes that offer owner/seller financing. Please do not confuse these transactions with "contract for deed", "lease to own", or "wraps"; these purchases are nothing like those and actually I would not recommend someone participating in a transaction like that as they can be very risky for the buyer(s), but that's another subject. The sellers of these homes actually own them out right so there are no liens, therefore they are able to finance them as well as convey title to them which is really the only way to consummate a true sale. If you have questions about how the process works, or want to know more about the terms of the purchase you can simply fill out the info form below, call me directly at (936) 494-5441, or e-mail me at ray@lakeconroerealty.com. I will be glad to explain the process in detail and answer any questions that you may have.
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