Key insights

• ⚖️ Owner financing allows purchasing a property directly from the homeowner without involving banks or mortgage companies
• 💳 No credit check or strict requirements, just a down payment and monthly payments over a specified period of time
• 💰 Availability of money is more important than the cost, as the property can be refinanced in the future
• 🏠 Buy houses with 10% down payment, no background, job history, or credit checks
• 💵 Factor in additional costs like attorney fees, avoid PMI with a 10% down payment, get the property inspected, consider purchasing a home warranty
• 📜 Get a title policy to cover the property, understand the true cost of interest rates with no PMI, seek assistance for hassle-free home purchase
• 🏦 FHA loan available 2 years after bankruptcy discharge, conventional loan available 3 years after discharge, refinancing with equity and a 620 credit score is relatively easy
• 🔍 Consider potential for selling the property in the future, equity buildup, finding properties for sale under owner's terms, and checking survey details, encroachments, and flood zones

Q&A

• What are the advantages of seeking real estate agents' assistance when buying a house with owner financing?

  Real estate agents can help you find properties for sale under owner's terms and assist in checking for survey details, encroachments, and flood zones before making a purchase. They can also provide guidance on evaluating the potential for selling the property in the future, equity buildup, and payment responsibilities.

• How soon can I apply for a mortgage after bankruptcy?

  If you've filed for bankruptcy, you can apply for an FHA loan two years after discharge and a conventional loan three years after discharge. Refinancing a property with equity and a 620 credit score is relatively easier, but you would need a traditional mortgage for refinancing.

• Can I buy a house with no credit check or job history through owner financing?

  Yes, you can buy houses with owner financing with just a 10% down payment and without the need for background checks, job history, or credit checks. Many properties available for purchase through owner financing are vacant and can be closed on within a short timeframe, typically about two weeks.

• What are the key considerations when buying a house through owner financing?

  When buying a house with owner financing, it's essential to factor in additional costs like attorney fees, consider getting the property inspected, and weigh the option of purchasing a home warranty for peace of mind. It's also important to understand the true cost of interest rates and seek assistance from a professional team for a hassle-free home purchase.

• What are the benefits of owner financing?

  Owner financing offers the opportunity to buy a house irrespective of credit, job history, or financial situation. It usually requires only a down payment and monthly payments over a specified period of time, making it more feasible for individuals who may not qualify for traditional mortgages.

• What is owner financing?

  Owner financing involves purchasing a property directly from the homeowner without involving banks or mortgage companies. It allows buyers to bypass traditional financing requirements like credit checks and restrictive qualifications, making homeownership more accessible.

• 00:00 Learn how to buy a house regardless of credit or job situation through owner financing, a transaction directly with the homeowner without involving banks or mortgage companies.
• 02:08 You can buy houses with 10% down payment and no background, job history, or credit checks. Many properties are vacant and can be closed on in about two weeks.
• 04:04 Buying a home? Make sure to factor in additional costs like attorney fees, avoid PMI with a 10% down payment, get the property inspected, and consider purchasing a home warranty for peace of mind.
• 06:07 Key advice for property transactions: Get a title policy to cover the property, understand the true cost of interest rates considering PMI, and seek assistance from the team for hassle-free home purchase.
• 08:11 If you filed for bankruptcy, you can get an FHA loan two years after discharge and a conventional loan three years after discharge. Refinancing a property with equity and a 620 credit score is relatively easy.
• 10:19 When buying a house, it's important to consider the potential to sell it in the future and the equity you can build. Real estate agents can help you find properties for sale under owner's terms and assist in checking for survey details, encroachments, and flood zones.