Home Buying in Manor>Question Details

Maryann Gill…, Renter in Austin, TX

Do you have to have good credit to purchase an owner financed home?

Asked by Maryann Gillespie, Austin, TX Fri Nov 15, 2013

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A more important question to ask yourself, should you take on more debt if you haven’t been able to pay the ones you already have?

Second question, also for you, is it a good move to try and circumvent the system (mortgage guidelines) that is in place to protect you? Good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Fri Nov 15, 2013
Its up to the seller. I would suggest that you have your all fund in place and your capability to pay the monthly payment. But you need to know where you want to live. and how much is the house your looking for. I can Find an Owner finance. It depend. I have to find the seller first and negotiate for you. Hope will help you this answer.
0 votes Thank Flag Link Fri Nov 15, 2013
Yes, it only depends on the owner's requirements. Be sure to have your attorney review any legal documents and assure that they are recorded. Title needs to be transferred to your name to protect yourself against bogus owner-carries.

Good luck!
Barbara Coker
NMLS#228545
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas!
0 votes Thank Flag Link Fri Nov 15, 2013
It all depends on the OWNER.
Sometimes they would overlook the credit score with a good job history and also with a large
deposit upfront.

Good luck and hoping this helps ... browse me web and links here under.


Kadibhai (Kadi)
Better Homes & Gardens Gary Greene, Realtor Katy/Houston
Phone: 832-228-7978
Fax: 281-646 1841
Email: kadi.kadibhai@garygreene.com
Web: http://www.har.com/kadi
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I am referred to your family & friends!"

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0 votes Thank Flag Link Fri Nov 15, 2013
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