Seller Financing Program
Seller Financing is one of the easiest ways to home ownership without having to qualify through a bank. The advantages are huge for both the seller and the buyer.
The advantages to the buyer are numerous. Here are a few quick reasons you may want to go this route as the buyer.
- No bank qualifying. This can be huge as a owner occupied home owner. There are many reasons why this may be to your advantage. If you have challenged credit, a recent bankruptcy, a foreclosure or short sale, not enough time history at your job, just moved into town then these are all reasons why you may not qualify.
- An investor can use this technique to gain more homes without worrying about having too many homes in their portfolio.
The advantages to the seller are also numerous.
- Sellers can collect monthly interest payments thereby adding a higher rate of return to their investment.
- They are selling on an installment sale and thus don't pay capital gains tax until after the loan is paid off.