Owner Financed Houses in San Antonio, TX

Owning a home is part of the American Dream.

Not throwing away your money in rent is also a wise decision.

Unfortunately, after the crash of 2008, lending became even harder than before. The banks make you jump through so many hoops because they wan to make sure you’re not going to try to live in a house that you can’t even afford or which you’ll just stop paying whenever you feel like it. That’s exactly what happened in that crash and why so many banks went out of business. Banks learned from their mistakes and went over board with the qualification process. Now they have so many requirements which prevent hard-working, good-paying people from getting a home and they’re stuck paying rent.

Owner Financed Houses in San Antonio, TX

So what is an owner financed house and why do so many people look to buy one? Owner financed houses in San Antonio, TX (aka Seller Financed houses) are houses which no banks are involved. The lender is the owner/seller. You still have to pass some qualifications, but they are less stringent than that of banks. The main thing that is looked at is your debt-to-income ratio. This will be the primary factor in you being able to buy a house through owner financing. We look for about 43% debt to income ratio.

For example:

Miguel makes $4,000 a month from his construction job and he gets paid by check, which will serve as proof of income. 43% of $4,000 = $1,720.

The only two debts he has are his work truck, which costs him $470 a month, credit card which he pays $500 a month. This totals to $970. Now, $1,720 – $970= $750. This is the amount of house payment he can afford to get without going over the 43% debt to income ratio. With owner financing, we can usually bumpt that up to 50%, making it easier for people to buy a house.

Where do You Find Houses Available for Owner Financing?

SellerWillCarry.com works with companies such as Avid House Buyers which is a company that buys houses for cash and then sells them to people looking to buy one. We also work directly with other investors and owners who are looking to do the same. This is a great way to become a homeowner without the hassles of having to qualify for a mortgage with bad credit.

What’s the cost to Purchase Owner Financed Houses in San Antonio, TX?

Here are the typical costs to consider:

• Requires about 10% of the price of the house to move in
• One Year Insurance paid Upfront
• Closing costs ($3,000 +/-)
• Utility deposits ($0 – $500)
• Moving Costs (???)+

Want More Information?

If you would like to see if you qualify, call/text 210-331-7283. Also, you can request for us to give you a call by filling out THIS FORM, and you can also see our houses HERE.