People who invest in real estate are always looking for new ways to increase their investment capital and one of the best ways is through seller financing. When you offer to finance the purchase of your, you can sell your property through owner financing and gain a great deal of profit on your investment. There is commonly a time limit on the loan to allow the buyers time to straighten out their credit issues over a two or three-year period. Should your buyer default, they would have to relinquish their rights to the home. Sellers can make several creative financing arrangements to suit the needs of the buyers.
How does it benefit you as the seller? In addition to getting more money from a buyer who may not have been able to purchase your home otherwise, should buyers default on the loan, etc., you can easily evict them and keep collecting rent from other tenants. They can’t just walk away! Another benefit is that it works out well for first-time homebuyers. Instead of dealing with a traditional mortgage process all over again, they are enticed by owner financing terms which only require the down payment, typically 10% or less. It also makes buying easier for people who do not want to commit their entire paycheck toward an expensive mortgage every month.
One of the benefits of using owner financing to sell your house in Colorado Springs is that you are sure to get your asking price as if you set it in stone.
We are real estate investors who specialize in creative financing and private money loans for homes. We have a network of lenders across the country, with a focus on real estate investors, so we can offer very liberal terms.
If you own a home that needs some fixing up or if you find yourself upside-down in your mortgage, we may be able to help. If you want cash from the equity without having to sell your home, we may be able to help as well. In either case, our loan programs are considered non-conventional because they don’t conform to traditional lending guidelines. For example:
We make 50% LTV purchase money first position mortgages on primary residences – no appraisal needed!
Current Cash Flow
As the buyer continues to make the payments to you monthly, they build equity in the house until it’s paid off. In Colorado Springs for example, this form of financing typically beats other conventional methods of selling a property because it allows buyers to have access to the cash needed while still being able to secure a home without any money down.
Many potential buyers are not aware that seller financing is available or that they can use their personal credit cards as a downpayment. Many sellers do not fully understand how much income is required, what options exist for them, and how all this works especially when properties are either located out-of-state or several states away from where you live now.
If the need to move arises, a buyer can close in roughly a month, but it will likely take closer to two months if all the parties involved require time for research and due diligence.
The traditional mortgage process is not just about getting a loan. It’s also about exploring your options at every step of the way so you know how much house you can afford and what type of loan will enable you to purchase it. In contrast, owner financing opens up homeownership so anyone who qualifies can get in on Colorado Springs real estate — regardless of [income] or [credit score]. Not only that, with owner financing, there are no initial costs beyond the cost of your down payment.
A Solution for Buyers with Less Than Perfect Credit When the economy experiences times of economic hardship, it can be difficult for anyone trying to improve their situation through conventional financing. It doesn’t matter how much money someone has if they are not approved for loans or bank financing, which seems to happen more often in today’s market. The need to sell your house fast in , Colorado Springs might bring you in contact with buyers who don’t qualify for traditional loan approval.
HBR Colorado fully understands the benefits of using owner financing to sell your house in Colorado Springs. If you would like to learn more, HBR Colorado is happy to answer any questions or concerns you may have, with absolutely no obligation. Call HBR Colorado at 7192860053 or send us a message today!