Owner Financing is the acquiring of property whereby a buyer gets to finance the purchase through the person who is selling. This could be because the prospective buyer cannot afford financing normally or they are not willing to pay the current interest rates in the market. This will also be possible if the seller is having a hard time selling off the property. It may take care of the purchase price and then a bank loan can be used to cover the remaining difference.

Owner financing homes has been possible over the years due to the rising property costs and more sore the transactions that are involved int he acquiring of property. This mode of financing is a loan to a purchaser that is provided by the owner of a piece of property. This one then follows the conventional payment methods whereby a down payment is paid out, then monthly installments over a specified time, and interest rates until the loan has been fully repaid in full. Owner financing homes is beneficial to a buyer in that they may not be able to obtain a loan from the bank, to acquire the property. Being an investment whose return will be guaranteed by the ability of the one who is buying the property to cater for the pending mortgage.

Some of the benefits…