| Select your area | Post an ad | Log in |
Owner Finance in Carrollton, Texas |
|
FOR MORE INFORMATION CALL: Gayle 972-825-2396 oficonsultant@gmail.com House Address: 1839 Castille Dr, Carrollton TX 75007 Key Information: Built in 1974 Carrollton-Farmers Branch Independent School District Approximately 2200 sqft 3 bedrooms and 2 bathrooms 2 car garage Detailed Description: Very updated home with 3 living areas. Crown molding in both large living areas and dining area. 3rd living area has glass block windows & track lighting. Ceiling fans throughout. Kitchen, with tile floor & tile backsplash, opens to 2nd living area with brick, gas fireplace. Entry and both baths have ceramic tile floors. Garage is oversized and finished out with workbench, shelves & pegboard. Sales price of $145,000, with 10% down, the monthly payment would be $1050 plus insurance and property taxes. I would be able to carry as a second lien on this property of 5% on the down (which doesn't really change the monthly payment, only the amount of the downpayment). We have some programs that are 100% Financing with credit above 600. We have 5% downpayment with credit scores 500 - 599. Owner Finance does have a NO Credit Check Program available. Guaranteed Approval � 90% LTV Financing - No Credit Check Program With a $2300.00 + the downpayment of 10%. No Credit Check No Credit Qualifying 99% Approval Rate - No Red Tape! Bankruptcy & Foreclosure OK! Tax Liens & Judgments OK! Easy Income Verification 80-90% Financing Affordable Rate* Program Overview: This program is intended for buyers that are experiencing a difficult time due to credit problems but have sufficient income to make payments on a home and have a 10% downpayment. The downpayment is not sourced or seasoned. Downpayment assistance programs DO NOT work with this program. The program actually provides a credit partner that obtains a loan to purchase the property on behalf of the buyer. When the credit partner closes on the property they immediately enter into a Lease Purchase Contract with the buyer. This gives the buyer control of the property as long as they make their monthly payments on time. The buyer then has a period of three years in which to refinance the property and pay off the Credit Partner. Once everything needed is received the file is submitted to the Credit Partner Group. To receive a written commitment it is expected to take about 5 to 7 business days. This time is an estimate and is not guaranteed. You will be notified when a commitment is received from the Credit Partner. You will be issued a Acceptance and Commitment Agreement that needs to be signed and then faxed back. The original needs to be shipped overnight after faxing. Shipping instructions will be provided when the agreement is issued. Down payment funds are transferred to Credit Partner. Closing procedure and instruction are provided. Property Type: Single Family - Owner Occupied Only � (no exceptions) Duplexes � Owner Occupied Only, on a case by case basis Home purchase amount minimum is $75,000. Above $500,000 on a case by case basis only This program does not work on foreclosed property. Seller must be in title for a minimum of 12 months. Debt Ratio: The buyer must be able to afford the property they are trying to purchase. The monthly payment for the property will be approximately 1.1% of the sale price. As an example, the purchase price is $100,000 � the monthly payment will be approximately $1100 per month. (This is not an exact figure - will fluctuate depending upon Credit Partners rate) Quick Way to Determine a Buyers Maximum Purchase Price: multiply the borrowers verifiable annual income by 3.5. This will give you the maximum purchase price. Appraisal: A state certified appraisal with �Market Rent Analysis� is required on all transactions. If a current appraisal is available it must not be older than 30 days from file submission date and have comps that are within 90 days from the date of the appraisal. Contract Earnest Money: Every transaction requires earnest money be provided upon entering contract. This amount is no less than half of one percent of the sale price with a minimum amount of $500. It�s best not to submit an application for consideration until you have a signed contract (305) from the end buyer along with the earnest money deposit. Do not present contract 305 or earnest money to the seller. This will be provided to the seller directly from the assigned credit partner. Buyers Upfront Expenses to Use Program: Buyer(s) must provide: Analysis fee of $750 � Non-refundable (at time of application) Credit Partner Submission Fee of $750 � Non-refundable Earnest Money � half of 1% of the sale price or $500 minimum (credited towards downpayment) Appraisal Fee � averages $300 to $500 depending upon location. (can also be paid for by the seller) A Word from Owner Finance: We have gone to great lengths to find and facilitate a program such as this for our consultant�s use. This program - as already indicated - is not for every deal. It requires a large spread to make it profitable for you. Considering the current market environment we�re experiencing, finding motivated sellers that will sell at a large discount is trivial. If you�re not finding them you�re not working hard enough. The Analysis Fee and Credit Partner Submission Fee are non-refundable. The Analysis Fee is for processing and facilitation of the entire file and includes buyer background check along with income and employer verification and packaging for presentation to Credit Partner Group. The Credit Partner Submission Fee is for the constant marketing efforts to attract, interview, updating and approve Credit Partners for program participation. Again, this is a non- refundable fee. The requirement for buyer�s to be approved for this program is very simple. If they have two years continuous employment (different industry OK) and can prove it and assuming they pass a background check � they are approved. They will be approved to purchase a home for 3 times the amount of their verifiable income. If false information or unverifiable income is stated to qualify for this program they will be denied. Either case we must complete our work to make a determination and therefore the funds are not refundable. We strongly suggest that you inform the buyer to be absolutely sure they are being truthful regarding the information they provide. Be diligent yourself � have the buyer provide their income documentation to you before they apply.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Avoid scams and fraud
Signs of fraud: wire transfer, money orders, cashier checks, shipping, escrow, "transaction protection", "guarantee". Be safe by dealing locally. Read more |
Owner Finance Guarantees You'll Flip Any House For a Big Paycheck in 7 Days or Less. www.7daysaleguy.com |
|
What is Owner Finance Find and Compare prices on what is owner finance at Smarter.com. www.smarter.com |