Are there owners in Wagoner willing to finance a house for somebody with past bad credit?

Asked by Kiwi, 74467 Thu Mar 18, 2010

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Monica Medley’s answer
Monica Medley, Agent, Wagoner, OK
Fri Mar 19, 2010
Hi Kiwi,

Thanks for your question. Currently at this time we are not aware of any owners willing to finance a home for someone in the Wagoner area. Have you spoken with a lender to determine your credit position so then you could begin repairing the necessary items? Sometimes a persons credit is not as bad as they think after they speak with a lender. There are several in our area, stop by for information-we would be happy to help you.
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willieyumyum, , Tulsa, OK
Wed Apr 23, 2014
check out Vanderbilt Mortgage
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Josh Barnett, Agent, Chandler, OK
Fri Apr 18, 2014
I am sure there are with the right amount of NON-Refundable down payment.
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Milpribburr…, Other Pro, Wagoner, OK
Mon Apr 14, 2014
I know of owners in Wagoner that will finance their properties. Its a win/win for both parties but the banks and realtors will steer you away since they are cut out of the process and all their fees.
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Dan Tabit, Agent, Issaquah, WA
Thu Mar 18, 2010
Kiwi, Are you looking for owner financing? Most sellers get cashed out by the buyer’s mortgage loan. If you are looking for owner financing, or a chance to buy something at today’s lower prices while you fix your credit issues, you should get an agent and look for lease options.
A lease option typically allows you to set the purchase price at the current value. You rent the home for a period of 6 months, 1 year or more, at which time you may exercise your option to purchase the home. Part of your rent may be applied toward down payment so that if you are able to obtain financing from a lender you will already have a chunk down.
If this sounds appealing, you'll need to find a local Realtor with Lease Option experience to represent you. You'll want some assurances that the home is in good standing with the owner’s bank. There are cases where people have rental homes get foreclosed upon while the owners pocket the rent rather than make a payment.
I hope you are successful in finding a home.
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