Justin Willi…, Renter in San Antonio, TX

We're first time homebuyers interested in owner financing. Are there any listings, I can't seem to locate any.?

Asked by Justin Willingham, San Antonio, TX Wed Feb 6, 2013

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This question was asked from this property: http://www.trulia.com/property/3107160844-218-Colglazier-Ave…

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Can you tell us how to search for owner financing in Phoenix, Arizona?
0 votes Thank Flag Link Wed Oct 16, 2013
Most people think their credit is beyond repair so they find themselves looking for non-traditional means in order to become homeowners. Today, believe it or not, financing is pretty straight forward. We Loan Officers have tools to take the guess work out of qualifying for a home loan. Please consider contacting a LO who specializes in working through credit challenges. You never know, you just might be surprised to know you can actually qualify for one of the many low down payment government insured financing options.

Best of Luck!

http://www.trulia.com/blog/george_raymondo/2011/11/can_i_buy…
Web Reference: http://www.AFN-Loans.com
0 votes Thank Flag Link Thu Feb 7, 2013
Owner Financing can be a good thing. Please be prepared for a down payment of anywhere between 8%-12% and an interest rate in the same range.

Here is just a sample list throughout the city.

http://sabor.connectmls.com/listings.jsp?dcid=D50926D3906BF6…

Gregory Touchstone
Keller Williams Realty
210-660-2834
0 votes Thank Flag Link Wed Feb 6, 2013
There are homes for sale that offer seller financing but they are few and far between. The reason for this is that most sellers want the funds from the sale of their home to buy another. In addition, many are uncomfortable with the idea of being the lender, as that would mean they would also have to arrange for a foreclosure if the buyer ever stopped making payments and that is out of their comfort zone.

Those that do offer owner financing usually offer it at a much higher rate than a bank would offer to a well qualified buyer. The interest rates I've been seeing are 8-10% where current market rates are around 4% or lower. They also want a minimum of 10-20% down payment. Most buyers who want owner financing, because of bad credit, don't have the down payments needed to buy and can't afford the higher interest rate that an owner requires to take on the additional credit risk.

My advice to you is to either wait until your credit improves, if that is an issue, and buy when you are able to budget for it. Or take the time to sit down with a loan rep to find out what you qualify for and review the many low down or no down payment loans that are available today. For more details on buying a home, go to my website at http://MySanAntonioHome.net.
0 votes Thank Flag Link Wed Feb 6, 2013
Here are all of the homes currently for sale that are offered as Owner Finance at $250,000 and Lower:

http://sabor.connectmls.com/listings.jsp?dcid=D50F33BF0896DC…

If any of these are of interest, shoot me an e-mail, text, or call me and we can go see them :)



On another note.. you may be surprised at the things we can get around for first time homebuyer loans.. We've been fixing credit and putting together tough loans for 16 years now. If we are able to get you a new loan, you are not bound by the limited selection of homes offered as owner finance... You will need less money down, and have a much better interest rate.. Something to think about... Never hurts to see what needs to happen to get you there... In most cases, its not nearly as hard as people think :)

Jason C Campbell
Platinum Top 50 Finalist
Option One Real Estate
210-389-5266
.
http://www.SAHomeExpert.com
0 votes Thank Flag Link Wed Feb 6, 2013
Saw your response ao a homebuying quesion on Trulia.
Are your listings automatically updated, or are these listings dated?
Thank you
R Burr
Flag Wed Feb 6, 2013
That's because sellers are less interested in providing financing than buyers are in having sellers provide it.

Here's the thing - any creditworthy person with 3.5% down can get a mortgage with a rate under 4% for thirty years. But that's a "fake" interest rate, in a way, because the Fed is holding down interest rates to stimulate the economy. If it was a lender's own money, the rate could be 5%, 6%, or more. I don't know.

Sellers want to sell, they don't want to lend money at 4% or less. They don't want to "sell" to someone with only enough down payment to cover closing costs, and they can't get mortgage insurance to protect them against a buyer's default.

So buyers really don't have anything to offer a "seller" except a promise - give me the deed, and I promise to make the payments.

It's just not that good a deal for sellers right now.
0 votes Thank Flag Link Wed Feb 6, 2013
If you go to http://www.freedomhomebuying.com you will see homes which are available for Owner Financing. We are constantly adding new homes and will actually be adding one more home this week.
0 votes Thank Flag Link Wed Feb 6, 2013
Owner Financing List 100 total. Price up to $150k. Call me so we can schedule in person showings!

Click the link below to view these properties:

http://sabor.connectmls.com/listings.jsp?dcid=D5115A86E0D7B3…

If the above link does not function, copy and paste it into your
browser address bar.

Al Tillman

Prosperity, REALTORS & Consulting
9820 Lorene Ln
San Antonio, TX 78216
Cell:(210) 954-4985|
Personal Fax:(210) 519-3058
Email: info@altillman.com
website: http://www.rentorbuysanatonio.com
0 votes Thank Flag Link Wed Feb 6, 2013
I will send you what is available if you send me your e mail address.
Thanks
0 votes Thank Flag Link Wed Feb 6, 2013
Sometimes with owner financing you just have to ask the owner if they would be willing to o it. Most owners aren't interested but it never hurts to ask when you find a property you like.
0 votes Thank Flag Link Wed Feb 6, 2013
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