Profile picture for mirmanzoorali

Looking for Owner Finance home

Owner financing requirement:

1. Home price: $300,000
2. Down: $50,000
3. Monthly: $3000

Location requirements:

1. Lombard
2. Villa park
3. Naperville
4. Bolingbrook
5. Schaumburg
6. Glendale Heights

Home requirements:

1. 2,500 plus Square foot
2. 4 Bedrooms
3. 2 Plus full bathrooms
4. 2 car garage
5. Finished basement
6. Clean backyard for kids 

Contact Mir at mirmanzoorali@hotmail.com or 630-254-2229
  • February 07 2014 - Villa Park
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Answers (4)

Profile picture for bumkeun
It is going to be very difficult for you to find a home in today's market with owner financing. It would be better for you to talk to a lender and get a mortgage instead of being VERY limited in the homes you can purchase with owner financing.
  • February 11 2014
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Unfortunately, laying out YOUR requirements for a home-owner carry isn't going to help you find one.  There is a very, and I mean VERY small market for home-owner carries - especially on $300k homes.  They do happen of course, but generally for properties that are difficult to finance, such as manufactured home or home in disrepair - or a very desperate home-owner.  It's simply to big of a risk for the average home-owner to take. 

If you can't qualify for a mortgage, renting may be more of a plausible option for you. 

Best of luck to you. 
  • February 07 2014
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$50,000 down and 14% interest, I'd say.

Mir, what's wrong here? Why don't you just go get a regular loan and cut that monthly payment down by almost half?
  • February 07 2014
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Profile picture for wetdawgs
Not many owners are willing to offer "owner financing" in a seller's market, why should they take the risk when lenders are not willing to do so?

What can you provide to the owners to convince them that they aren't taking a major risk?

  • February 07 2014
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