Owner Financing Homes is a WIN for Buyers and Sellers in Austin
Jonathan Osman explains why owner financing can be a win-win situation:
"Essentially, in owner financing, you, the seller, are acting as the bank for the buyer. They qualify based on your criteria, pay you a mortgage every month, and they own the house. Much like the bank, if they are late on a mortgage payment, you can foreclose based on the terms of the mortgage and when they sell it, they will pay you the balance. While it is risky and isn't for everyone, it can be extremely profitable and an excellent source of income through the interest paid on the loan. Most people never consider why a bank would ever consider lending money to someone who couldn't pay it back. However, all one needs to do is to pull up an amortization chart to realize the profit involved in mortgages. For an example, take a $200,000 mortgage at a 5.5 percent interest rate. In the first year, the buyer has paid the seller $10,932.72 in interest and only $2694.20 in principal."
Prospective buyers are not qualifying for loans for a variety of reasons, most of which are the result of the recent tightening of the lending guidelines.
If a seller needs to sell a property and is not risk averse, owner financing may be a way for the both properties to come out ahead.
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Forte Properties consists of the largest and most experienced team of licensed real estate professionals and investors that specialize in Owner Financing and Owner Financed Homes in Austin Texas.
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Forte Properties in Austin, TX consists of the largest and most experienced team of licensed real estate professionals that specialize in Owner Financing and Owner Financed Homes in the Austin TX area. We specialize in wrap around mortgages, subject-to's, mortgage assignments, and MUCH more!
Forte Properties consists of the largest and most experienced team of licensed real estate professionals and investors that specialize in Owner Financing and Owner Financed Homes in Austin Texas.
Forté Properties specializes in Owner Financed homes in Austin, Round Rock, Cedar Park, Leander and Pflugerville many more areas around Austin, TX. We are a team of real estate professionals that will help you find your perfect owner financed home in the Austin Texas area for FREE!
