Are you looking to buy a new home, you have great income but you don’t qualify for a traditional mortgage? You have a great job and a nice down payment but the banks don’t want to work with you? Let me tell you a little bit about Owner or Seller Financing!
With seller financing the owner of the home can sell it to you and act as the bank. Banks have strict guidelines and rules they MUST follow in order to provide mortgages to their customers. The home owner can sell their home to whomever they want and they can act as the bank providing the loan to you. Your down payment acts as the security. So your probably going to be asked by the seller for more down then a typical FHA loan is going to require. Most sellers ask for at least 20% down.
15 Seller Financed Homes Currently Available
The seller is probably not going to want to hold the loan for you for 30 years like a traditional bank, most seller financing deals I have helped my buyers get have had a 3 to 7 year balloon payment due. This means that the seller has a set amount of time to either pay off the loan or refinance it into a traditional loan. I like to have my clients talk to a lender to find out what its going to take to get a traditional loan so we know how long they need to do a refinance down the road.
With Seller financing you also have very little closing cost and fees. The seller is not going to require you to get a survey done, they are not going to require an appraisal and you will not have typical bank fees at closing, this all ads up to thousands of dollars in savings.
Every Seller financing deal is different, everything is negotiable; price, down payment, interest rate, loan length and more. You must use a real estate agent that has experience doing these types of deals as your going to need help navigating this type of deal. With experience it’s quick and easy, without an agent that has done this kind of deal it can become complicated, I have worked with many agents that wont even try because it sounds scary to them. I have closed many owner financed deals, in fact its my favorite type of home sale to do. Be sure to call me 386 315 4744 and lets talk about how I can help you get into your next home using seller financing.
I cover many areas here in the Greater Daytona Beach Area, you can check out all of the homes and condos in the area listings below. Next to each city name you will also see the total number of properties currently for sale.
Homes and condos for sale by city
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Check out some of these most popular home searches here at Daytona Beach Property Search
- Homes for sale in the Inter coastal waterway
- Homes and Condos for sale with Seller Financing Available
- Homes for sale in Port Orange along Spruce Creek Rd
- Port Orange Homes for sale with Boat Docks
- New Construction Town Homes in Plantation Bay
- Homes For Sale in LPGA
- Homes For Sale in the Spruce Creek High School District ( TOP RATED SCHOOLS)
SEARCH ALL HOMES IN THE GREATER DAYTONA BEACH AREA HERE
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