Real Estate Owner Financing
Real Estate Owner financing can be a scary idea for most.
Some owners will offer to finance a home for you. Before you bite off on the offer there are some things to consider. What is the interest rate he/she is offering? What is the down payment? What are the terms/length of the note? What is the current status of the title? Are there any liens on the property? If you answer all the questions to your satisfaction then an owner financed property might be an option for you. But most buyers go with a traditional mortgage.
Do your financing homework first.
In this current economy, it is wise to do some mortgage investigating before even beginning a search for a home. You can then determine your price range by knowing your "pre-approval" amount. This can be done through your banks mortgage department or through a mortgage company.
Do you have bad credit? There are
alternative home financing
options available. Perhaps you will have to put more money down or pay a higher interest rates, but there are loans available.
Now is truly a great time to buy a home- the interest rates are unbelievably low. Check current rates
here. (googles free mortgage calculator)
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