Non-Traditional Mortgage: Owner Finance versus Rent-to-Own
Thursday, 25 May 2017
Owner Finance vs Rent-to-Own Owner-Financed Homes Purchasing a home with owner financing allows buyers to avoid dealing with traditional mortgage lenders and instead borrow money directly from the seller. When to Consider an Owner-Financed Home This option benefits people who may not qualify for a traditional bank loan, because of credit, income, or job history.
- Published in Mortgage
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Tradition Ways to Buy a Home
Thursday, 25 May 2017
A traditional home loan is the most common type of financing in real estate. These loans usually have strict lending requirements, including credit score and income amounts. They also require a sizable down payment, usually 5-20%. Various federal programs exist to help you if you don’t quite meet the bank’s requirements for a conventional loan.
- Published in Mortgage