Good afternoon Valerie,
Please allow me to recommend a more prudent course of action: get Prequalified by a Local Mortgage Banker. If you are indeed qualified then you have no need of owner financing. If you are not qualified based on credit then your Mortgage Banker can guide you on the steps you need to take to prepare for homeownership.
A traditional mortgage loan is a far better experience than any kind of owner-financing would ever be. You'll get professional guidance from a Licensed Mortgage Banker to follow the proper course on your journey to homeownership.
There's the right way and the wrong way to buy a home. What I propose to you is the right way; that's good for you and good for your family.