This is when a real estate buyer finances the home they want to purchase directly through the person or entity selling it. This often occurs when the prospective buyer cannot obtain funding through a conventional mortgage lender, or is unwilling to pay the prevailing market interest rates. The seller may agree to owner financing if he or she is having difficulty selling the property. Owner financing may only cover part of the purchase price, with a smaller bank loan making up the difference. Also known as “creative financing” or “seller financing”.
Owner financing is common in a buyer’s market. In order to protect his or her own interests, the seller may require a higher down payment than a mortgage lender would. Down payments of 20% or more are not uncommon in owner financing. The deed to the property is usually not transferred to the buyer until all of the payments have been made, but because no institutional lenders are involved, the overall terms of financing are much more negotiable, and can be set up to provide benefits to both the seller and the buyer. The buyer saves on points and closing costs, while the seller can obtain monthly cash flows that provide a better return than fixed-income investments.
AHRE team is the best! Friendly, helpful, and great to do business with!!
100% LOVE working for Amanda Howard Real Estate! The honesty and integrity of our team makes working here a great experience personally and professional!!!
I’ve been part of Amanda Howard Real Estate for 8 years now and still love to come to work everyday. Amanda and Travis has created a great place to work, learn and grow. They continue to seek and search for bigger and better ways to grow the company as well as each of us individually. I don’t know of any other company that will invest the amount of time and money in their people like they do!
Buying a house was so much easier than I expected! The real estate team walked with me through every step of the way, which was very important since this was the first time I tried buying a house. From the start, Allie made it very clear that my happiness and financial well being were her number one priority!
Let me start by saying that my expectations were surpassed immensely. I have been looking at a few houses with a friend who is in the real estate business but was having no luck. So I decided to look on the Internet, to find a realestate agency in the Huntsville area to see what options they offer. I was surprised to find that Amanda Howard realestate was number one in Alabama and ranked in the top 50 across the US. I was shocked again to find that Amanda Howard was endorsed by Barbara Corcoran …
Excellent experience all the way around and sold our house quicker than we ever imagined!
Amanda Howard’s company is professional and hardworking. The integrity and work ethic is why they are so successful.
Amanda Howard Real Estate was recommended by my granddaughter, who knew Amanda through her work activity. Her recommendation certainly held true. Michele Daymond surely stood up for the company. The entire force at Amanda Howard is involved, and they sold my condo in a matter of days!
It was our first time buying a home and it was pleasant!
Thank you Amanda and team for assisting with our relocation to Bama! A great experience. Everyone is happy.