Main Owner Will Carry Financing in Arizona Company Menu
BUYING REAL ESTATE
SELLING REAL ESTATE
WARNING: 20% Down is usually required.
With Owner-Financed Homes in Arizona, usually all you need to qualify for any of our AZ "owner will carry" homes is the down payment and the first month payment and your share of the closing costs to transfer ownership into your name.
Please note: Many people think in an "owner carry" that the owner is carrying the whole amount but usually owners want anywhere from 10-20% down.
MyOwnArizona offers owner carry financed homes so that you can own it now! Everyone is tired of waiting on the banks. This is your opportunity to take back the power, and literally move on with your life.
Once the AZ property has closed, you will actually own it! Very similar to what a bank would do when it lends money. The only real difference is you and the owner will work out the money to purchase your Arizona home instead of the bank, which means you pay less down than what a bank would typically charge, plus we do not require a credit check.
» We use an Arizona title company and put the deed in your name.
» We will put you in touch with the owners willing to carry homes for sale.
» We also do not charge ridiculous interest rates.
» We have owners that are willing to carry longer than even 30 years.
Typically our rates are very comparable to the current market rate of interest or just a point or two above. It varies depending on the home you select and what that owner is willing to negotiate on the payments.
Our owner carry financing is a unique and creative way to finance Arizona real estate transactions. Oftentimes referred to as an Arizona seller carry back or Arizona owner financing, the Seller finances a portion or the entire amount of the purchase price. When owner carry contracts are used, the buyer usually provides a small down payment to the seller. This amount is generally three to five percent of the purchase price in AZ.
Since many people are unable to obtain traditional mortgage notes, a MyOwnArizona owner will carry contract provides them with the opportunity to own property without obtaining a loan.
In instances where the Seller finances a portion of the selling price, the buyer must obtain a mortgage loan for the balance. Mortgage lenders are more apt to approve mortgage loans when the purchase price is significantly below market value.
MyOwnArizona owner carry terms will carry financing agreements generally last between three and five years. This allows the buyer to clean up their credit and establish a decent FICO score. Borrowers' credit worthiness is based on FICO scores. The higher the credit score, the lower rate of interest. Individuals with FICO scores under 600 pay a much higher rate than people with a FICO score of 700. However, we have some customers that are able to work periods longer than 30 years if wanted.
Many sellers will report payment history to the three major credit reporting agencies. However, individuals engaged in seller carry back financing would be wise to make their payments through their personal checking account. If the seller does not report payments, the buyer has documentation to prove their ability to pay the note.
Real estate investors can take advantage of our MyOwnArizona "owner will carry financing" to purchase multiple properties. Currently, banks have placed a cap on the number of mortgage loans one person can obtain. Investors that have reached their mortgage note limit can purchase additional properties by seeking out sellers who will finance the entire purchase price.
MyOwnArizona owner will carry financing should be backed by a promissory note which includes the purchase price, down payment, interest rate, monthly payment amount, and end date for financing.
If you own Arizona property and would like to sell it, consider offering our MyOwnArizona owner will carry financing. By executing proper legal documents, you can keep your property safe while earning a profit during the terms of the agreement.
We are here to help, and give you options!
Contact us at: info@MyOwnArizona.com.
MyOwnArizona owner financing is becoming quite popular due to the current credit crisis and bank's disinterest in loaning. Our owner financed homes provides benefits to both buyer and seller. Sellers offering "seller carry" financing open the doors to more potential buyers.
Whether you are buying or selling property in Arizona, hire someone like us, who wants to earn your business. We will see you soon.