BUYING A HOUSE WITH SELLER FINANCING
Congratulations! You’re ready or getting ready to buy your own house! Most people know about the traditional route and getting a mortgage through a lender, but depending on your situation that may not be right for you. Today we are going to talk about the benefits of buying a house with seller financing. It can often be difficult to get approved for a mortgage loan through a bank for the amount you need to buy the house you want. Banks frequently require that you have worked the same job for two or more years. You must show a predictable income with paystubs and W-2’s. They can also turn you down for things such as your credit score and debt to income ratio – it seems any little thing can make it hard to meet their ridged guidelines. However, sellers who offer owner financing do not need to adhere to the strict rules banks do and can work freely with individuals who may not fit the cookie cutter mold of a “typical” homebuyer. If time is of the essence, buying a home with selle...